What is an example of plottage in real estate?
The plottage increment refers to the value gained by combining the lots. For example, Steve owns two plots that are right next to each other. Each one is worth $40,000. When combined into a single property, the total value is now $90,000 and the increment is $10,000.
What is the meaning of plottage?
Definition of plottage : the area included in a plot of land.
What is the difference between assemblage and plottage in real estate?
When comparing the terms, assemblage and plottage, assemblage refers to the process of combining individual parcels while plottage refers to the increased value of the combined, larger parcel. This distinction is particularly important in transactions that involve eminent domain.
What is a plottage suit in real estate?
Plottage is an increase in the value of a parcel of real estate when you combine it with another or multiple parcels under one ownership to form a plot with a higher and better use. Plottage is associated with assemblage, which is the process of combining multiple parcels into a single larger plot.
What is another word for plottage in real estate?
Plottage is also referred to as assemblage, although the latter is more often used to describe the process of consolidation. The term is often used in eminent domain matters to designate the added value given to lots that are contiguous.
What is a plottage map?
The definition of plottage in real estate is simple. When you combine multiple pieces of land into one large parcel, the plot appreciates in value. This is not to be confused with the process of combining multiple plots of land into a single larger plot, which is known as assemblage in real estate.
What is another word for Plottage in real estate?
Plottage is also referred to as assemblage, although the latter is more often used to describe the process of consolidation. The term is often used in eminent domain matters to designate the added value given to lots that are contiguous.
What is another word for Plottage?
Synonyms: accomplish, achieve, cap, come, conclude, content, crown, end, finish, fulfill.
What does avulsion mean in real estate?
Avulsion refers to water quickly submerging land or moving land to another location. In most situations under state property law, land moved by avulsion continues to be the property of the owner of where the land originally was located.
What are laches in real estate?
Failing to take action on a timely basis misleads an adverse party. In other words, the meaning of laches is an unreasonable postponement in asserting a claim, resulting in its rejection. For example, a bordering property owner builds a roadway across the neighbor's parcel to access a waterway.
What is metes and bounds description?
Metes and bounds are the boundaries of a parcel of real estate that identified by its natural landmarks. Metes and Bounds landmarks are often used in a “legal description” of a land. Legal description is the geographical description of a land that identifies its precise location, and is kept with the deed of the land.
What is another word for Plottage quizlet?
Also called assemblage. Plottage: two parcels of land are too small to get the optimal value of the property. But combining them you can build and do more with them. A type of market that does not operate under the rigid rules of perfect competition.
What does Alluvion mean in real estate?
Alluvion refers to the slow accretion or erosion of soil, sand, and other parts of land.
What is the difference between Alluvion and avulsion?
“Avulsion” is the pushing back of the shoreline by sudden, violent action of the elements, perceptible while in progress. “Accretion” is the process of growth or enlargement by a gradual buildup. “Alluvial” means an increase in land from the flow of water against a shore or bank.
What is an example of laches?
Laches is case-specific and relies on the judge's decision as to whether a plaintiff waited too long and the defendant can't put together a reasonable defense because of their inaction. For example: The statute of limitations in Arkansas for rape is six years.
What does estoppel mean in real estate?
What Is an Estoppel Certificate? A tenant estoppel certificate is a binding document that clarifies the current status and terms of the lease agreement between a landlord and a tenant for a prospective purchaser of property. Another name for a tenant estoppel certificate is a tenant estoppel letter.
What terms are included in every metes and bounds?
A metes and bounds description identifies the boundaries of a parcel of real estate using reference points, distances, and angles. The description always identifies an enclosed area by starting at an origination point, called point of beginning, or POB, and returning to the POB at the end of the description.
How do you plot metes and bounds?
0:414:16Metes and Bounds Deed Plotting Software – Tutorial 1 – YouTubeYouTube
What is the another name of depreciation?
The following are the other names of depreciation in economics: Consumption of fixed capital. Current replacement cost. Replacement of fixed capital.
What is value in real estate?
12 Real estate appraisal. • Value is therefore an estimation of the likely selling price. In other markets, where. homogenous goods are sold, the price is not estimated but is determined from market trading and is usually used to describe an assessment of worth.
What is the difference between alluvion and avulsion?
“Avulsion” is the pushing back of the shoreline by sudden, violent action of the elements, perceptible while in progress. “Accretion” is the process of growth or enlargement by a gradual buildup. “Alluvial” means an increase in land from the flow of water against a shore or bank.
What’s the difference between accretion and alluvion?
The terms alluvion and accretion are often used interchangeably, but alluvion refers to the deposit itself while accretion denotes the act. Land uncovered by a gradual subsidence of water is not an accretion; it is a reliction.
What is avulsion real estate?
Avulsion refers to water quickly submerging land or moving land to another location. In most situations under state property law, land moved by avulsion continues to be the property of the owner of where the land originally was located.
What is Alluvion in land law?
Alluvion. , a legal term which describes the increase in the area of land due to sediment (alluvium) which is deposited by a river. This changes the size of a piece of land (a process called accession) and thus its value over time1.
What does laches mean legally?
A doctrine in equity that those who delay too long in asserting an equitable right will not be entitled to bring an action.
What does laches mean?
Definition of laches : negligence in the observance of duty or opportunity specifically : undue delay in asserting a legal right or privilege.
What is an example of estoppel in real estate?
For instance, if a landlord agrees not to terminate a tenant's lease as long as the tenant spends money on improving the property, an estoppel certificate could prevent the landlord from going back on their word and terminating the lease, even when the promise may not have been written into a contract.
What is estoppel example?
Estoppel definition If the court has established in a criminal trial that someone is guilty of murder, the legal doctrine preventing the murderer from denying his guilt in a civil trial is an example of estoppel.
What is metes and bounds example?
Metes and Bounds Example An example of a defined property line by metes and bounds would be “Thence North 89 degrees, 39 minutes, 47 seconds West, a distance of 147.33 feet (the metes), along the southerly line of property now or formerly owned by John Smith (the bounds).”
What is a pole in a deed?
The Gunter's chain was developed to make it easier to measure one square acre, because 10 chains on each side of a square equals one acre. The full chain was also called a 4-pole chain. Since 1 pole is 16.5 feet, 4 poles equal 66 feet or one chain.