Parcel - A parcel of land is a piece of real estate that is legally defined and distinct from other pieces of land. It can be used for various purposes such as residential, commercial, industrial, agricultural and more. It can be identified by its legal description, such as an address or a lot number. Parcels can be bought, sold, leased, or developed on. When a parcel is divided into smaller pieces, it is called subdividing.

Real Estate Glossary | What is Parcel??

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