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A parcel split, also referred to as a land division or property split, is the legal process of dividing a single property into two or more separate parcels. Property owners pursue parcel splits for various reasons, including: Development: Subdividing a larger property into smaller lots to build multiple residences or commercial structures.
Nov 30, 2023 · Benefits of Dividing Land. Splitting a land parcel can unleash numerous advantages, especially in maximizing the potential of your property. Maximizing Property Value and Utilization. Dividing a large parcel of land into smaller, more manageable pieces may significantly enhance the overall value of your property.
Mar 7, 2024 · Subdividing land involves dividing a larger piece of property into smaller parcels, each with its own legal description. This process typically requires approval from local government authorities and may involve considerations such as zoning regulations, land use restrictions, and infrastructure requirements.
I. Parcel Splits: Dividing Property for Development. A parcel split, also known as a land division or property split, is the process of dividing a single property into two or more separate parcels. Property owners often pursue parcel splits for various reasons, including: Development: Subdividing a larger parcel into smaller lots to accommodate ...
Oct 21, 2023 · For any inquiries or legal assistance, you can contact Falcon Law PC at 1-877-892-7778 or via email at info@falconlawyers.ca. The Significance of Property Severance. Property severance, also known as land severance or land division, is the process of dividing a piece of land into two or more separate parcels.
About subdivisions. When you divide a piece of land into two or more parcels and offer one or more for sale, you are subdividing property, and the provisions of the Planning Act come into play. If your proposal involves creating only a lot or two, you may seek approval for a "land severance". For more details, see section 5, Land severances.
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While much of this depends upon the conditions of the market of the area, typically you can enhance the overall value of your plot by sub-dividing the land into smaller pieces and selling it off to more than one buyer. By subdividing your parcel into smaller lots you can also considerably reduce your mortgage and save a lot of money in the long ...
