User:Mhbrogie

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 bits of proprty 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.