dedication

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dedication

Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

dedication

An owner's gift of land,or an interest in land such as a right-of-way,for the public's use, coupled with the public's acceptance of the gift by making use of it.A dedication may be express,as when the owner specifically states an intention of dedicating land for a park.Alternatively,a dedication may be implied because of the owner's conduct and the reasonable conclusions to be drawn from that conduct.When one sees news stories about protestors attempting to block development of a valuable vacant lot previously kept clean and mowed by neighbors and used by children as a park, one is seeing an attempt to have a court declare that the owner made an implied dedication for the public use.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.