GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

Acre

Synonyms:	acreage, piece of land, plot, unit of area
Filed Under:	real-estate
Tags:	realty

acre: 1. A plot of land 180 by 242 feet is equal to one acre or 43,560 square feet (4,046.856422 square metres). An acre is equivalent to these other notable units of measurement: 1/640 square mile, 4840 square yards, 160 perches, 10 square chains or just over 2 and a half Canadian hockey rinks.

acre foot (AF) The water or other material needed to cover an acre of land one foot deep. Equivalent to exactly 43,560 cubic feet.
arpent An area equal to about 0.845 acres, traditionally used in France, Quebec and Louisiana. Nowadays, hectares and acres are more commonly used measurements of area.
hectare An area equal to 100 meters by 100 meters
land The solid ground of the earth. This can include everything under it and over it. For example, Condominium Acts do divide land horizontally thereby limiting the vertical ownership.
land lot A piece of land owned by an individual or entity.
metes and bounds A surveyor's legal description of a parcel of land, defined by measurements and angles.
plat A map that shows a parcel of land and how it is subdivided into individual lots. Plat maps also show the locations of streets and easements.
property report A legal disclosure that developers of timeshare properties are required to give to prospective buyers.
subdivide To split something (like a plot of land) into smaller sections.
survey (srvy) A map executed by a licensed surveyor, which sets down precisely the boundaries of a given property as well as improvements, references to known landmarks, and the property's notable features.
➥ As in surveyed land.