Property Ownership
In North Dakota, a 'subdivision' is created when a parcel of land is divided into:
ATwo equal halves
BTwo or more lots, parcels, or sites for the purpose of sale, lease, or development✓ Correct
CAgricultural use only
D100 or more individual lots
Explanation
A subdivision in North Dakota is created when land is divided into two or more parcels for the purpose of sale, lease, or development. Subdivision regulations require plat approval before lots can be sold.
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Key Terms to Know
Easement
A non-possessory right to use another person's land for a specific purpose.
Short SaleA sale of real property where the sale proceeds are less than the outstanding mortgage balance, requiring lender approval.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
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