In real estate, a lot or plot is a tract or parcel of land owned or meant to be owned by some owner(s). A plot is essentially considered a parcel of real property in some countries or immovable property (meaning practically the same thing) in other countries. Possible owner(s) of a plot can be one or more person(s) or another legal entity, such as a company/corporation, organization, government, or trust. A common form of ownership of a plot is called fee simple in some countries.
A plot may also be defined as a small area of land that is empty except for a metalled road surface or similar improvement, and it typically all used for the same purpose or is in the same state. An example would be a car park or a cultivated garden plot. This article covers plots (more commonly called lots in some countries) as defined parcels of land meant to be owned as units by an owner(s).
Like most other types of property, lots or plots owned by private parties are subject to a periodic property tax payable by the owners to local governments such as a county or municipality. These real estate taxes are based on the assessed value of the real property; additional taxes usually apply to transfer of ownership and property sales. Other fees by government are possible for improvements such as curbs and pavements or an impact fee for building a house on a vacant plot.