Dictionary of Finance and Investment Terms: lot
lot
in a general business sense, a lot is any group of goods or services making up a transaction.
Dictionary of Real Estate Terms: lot
lot
an individual parcel of land in the plat of a subdivision. A buildable lot has proper zoning and is suitable for construction.
Example:The Yorks agreed to buy a home in a new subdivision outside town. They picked out a lot near the elementary school and contracted with a builder to construct a home to their specifications.
