Subdivision

The act of legally separating a parcel of property from the other parcels or larger division in a defined community. A developer, for example, may purchase a farm that was legally considered one big parcel and subdivide it into smaller parcels. Subdividing requires local approval and several legal filings. The name "subdivision" is also often applied to the finished product of the subdividing process. For more information, see the "Subdivision Development" article in the "Real Estate Investing" section.

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Real Estate 101

Real Estate 101

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