subdivide

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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 ?
CLIENT WHO HAS OWNED LAND FOR MANY YEARS NOW WISHES TO SUBDIVIDE THAT LAND INTO MULTIPLE PARCELS, AND THEN SELL THE PARCELS AT LONG-TERM CAPITAL GAIN RATES.
Channelizing subdivides the available bandwidth into smaller units (24 channels for T1 and 32 channels for E1) and multiplexes voice and data payload for more cost effective use of T1 or E1 phone lines.
Since 500 Mamaroneck comprises dual "center core" pods, space subdivides well for multiple users within each pod, down to units as small as 2,000 s/f.