assemblage

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Assemblage

The combination of two or more adjoining plots of real estate into a single plot. For example, a farmer may own 10 acres. If he buys the 25 acres next to him, he may combine the two plots so that they are from then on considered a single unit. Assemblage can increase the value of the real estate such that the new plot is worth more than the sum of its parts. This can have property tax implications.

assemblage

The process of putting together the purchase,or options for the purchase,of several small parcels from multiple owners in order to create a larger parcel of land.The goal is to obtain enough land for a particular development in mind, or to conduct the assemblage as a speculative venture,in order to sell the larger parcel for more money than it cost to purchase the smaller parcels. This increase in value due to the assemblage is called plottage value.