Dictionary of Real Estate Terms: public lands
public lands
acreage held by the government for conservation purposes. Public lands are generally undeveloped, with limited activities such as grazing, wildlife management, recreation, timbering, mineral development, water development, and hunting.
Example: Many western states, such as Alaska and Nevada, have large amounts of public lands. A part of this area is held by the federal government and is dedicated to national parks, wilderness, and wildlife refuges. Some oil and mineral exploration is allowed under lease to private firms.