Property OwnershipIntermediateDelaware Exam

In Delaware, what is a 'plottage increment' in real estate valuation?

ASimply the narrow additional value attributed only to a lot's specific corner location within a block

BThe increase in total value when two or more lots are combined (assembled) into one larger parcelCorrect

CThe value added by platting an unsubdivided parcel

DThe increment of value from a road frontage improvement

Why The increase in total value when two or more lots are combined (assembled) into one larger parcel Is Correct

Answer B: The increase in total value when two or more lots are combined (assembled) into one larger parcel

A plottage increment is the additional value created when multiple adjacent parcels are assembled (combined) into one larger parcel. The combined parcel often has greater development potential and value than the sum of the individual parcels.

Exam Tip: Property Ownership

Property ownership questions test the bundle of rights and different forms of ownership. Know the differences between joint tenancy, tenancy in common, and community property, including the right of survivorship.