Parcel
Definition and meaning of Parcel in real estate.
A parcel is a legally defined and registered plot of land that has been identified with specific boundaries and a unique identification number by a local government assessor.
In more detail
Each parcel is tracked in county tax maps and public records, allowing authorities to assess property taxes and record deeds. A single parcel can contain multiple structures, or a large property may consist of several adjacent parcels under one ownership. Buyers must verify the parcel boundaries through a survey before closing to ensure they are purchasing the exact acreage they expect. Real estate investors often search for undervalued parcels that can be subdivided or combined for development purposes.
Key facts
| Category | Legal, Titles & Closing |
|---|---|
| Identifiers | Assessor's parcel number (APN) |
| Recorded in | County tax maps and land registries |
| Key tool | Property survey for boundary verification |
A developer purchases a five-acre parcel of land with the intention of dividing it into five individual home sites.
Frequently asked questions
What is the difference between a parcel and a lot?
While used interchangeably, a parcel is a legal description of land for tax and ownership purposes, while a lot is typically a designated tract of land in a subdivision.
How can I find the parcel number for a property?
Property owners and buyers can find the parcel number on their annual tax bill, property deed, or by searching the county assessor's online database.
Related terms
Sources & references
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