Micro-lot

The term "micro-lot" refers to a tiny sub-divided portion of a plot of land that is made available for individual sale. Typically the owner of the larger 'parent-lot' CREATES non-recordable DEEDS that grant certain rights of ownership for each individual "micro-lot."

The term "micro-lot" was first used by MB Island Ventures as a mechanism for providing ownership in exotic properties. An owner of a "micro-lot" has full ownership in an actual piece of property, however based on the size of the deeded parcel (often just 1 square inch) the reality of making any improvements on the land, or using the "micro-lot" as an investment vehicle is quite limited. These "micro-lots" are typically made available as novelty gifts.

The concept of selling or giving away deeded rights to tiny parcels of property to which the recipients became a tiny property owner may have originated in the 1950s when the Quaker Oats Company gave away deeds to 1 squre inch of land in the Canadian Yukon in boxes of their cereal as a promotional event. Since then similar concepts have been launched making deeded rights to land on the Moon, on Mars, in Scottland and several U.S. states available for purchase.