subdivide


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Related to subdivide: subdivide into

subdivide

To separate property into smaller parcels for sale or borrowing purposes. People normally think of a subdivision as related to development of a residential area,but the definition is not that restrictive.

Example: A seller wishing to sell only a portion of a parcel of real property may have to apply for subdivision approval before the sale, including assignment of a new tax parcel identification number. Borrowers sometimes subdivide property so that a mortgage will be on only a specific improvement, such as a house, and the land reasonably necessary to support that improvement, rather than have a mortgage encumber more land than is necessary.

References in periodicals archive ?
The corporation then could subdivide and sell the lots on an installment basis and use the sales proceeds to pay its installment obligation to the taxpayer.
The taxpayer formed a corporation wholly owned by the partners of the partnership, selling the land to the corporation at its fair market value (FMV), and letting the corporation subdivide the land.
Utilizing the local expertise of NAI Batten & Moore of Charleston, SC, the team proposed a plan to subdivide the property, selling the raw land separately and then the adjoining distribution center as a sale-leaseback.
This property has a stable cash flow and the offering is attractive to investors who would be looking to subdivide the 2045 building or a purchaser that is looking to occupy the building," Newmark Knight Frank's Carton said.
Taylor was charged with illegally issuing certificates by which landowners avoided public hearings, thousands of dollars worth of fees and other requirements to subdivide property.
The most contentious language in the contract for some teachers relates to small learning communities, an increasingly popular high school reform movement that asks large campuses to thematically subdivide into smaller academies so that students have a more personalized experience.
The city wants to subdivide 90 acres in the neighborhood of the Three Springs property.
Taylor, who had worked 20 years for the county Department of Regional Planning before he came under suspicion in August 2000, is charged with illegally issuing certificates by which landowners avoided public hearings, thousands of dollars worth of fees and other requirements to subdivide property.