Definition
The term “Parcel” has multiple meanings that vary depending on the context:
- Piece of Property under One Ownership: In real estate, a parcel refers to a defined piece of land under one ownership that can be described by legal boundaries.
- Package Sent Through a Common Carrier: In logistics and transportation, a parcel is a package that is sent through a courier service or common carrier.
- To Distribute or Separate into Parts: Refers to the act of dividing or distributing something into parts, as in “to parcel out.”
Examples
Real Estate:
- Urban Subdivision: A lot in a newly developed housing subdivision can be sold as individual parcels.
- Rural Property: A large agricultural property can be subdivided into smaller parcels for sale or lease.
Logistics:
- E-commerce: An online retailer sends a parcel to a customer via a courier service.
- Postal Services: Sending a gift to a friend through the postal service involves packaging the item as a parcel.
Distribution:
- Resource Allocation: A company might parcel out resources to different departments.
- Land Division: A large piece of land might be parceled out to several farmers.
Frequently Asked Questions (FAQs)
What defines a parcel in real estate?
A parcel in real estate is defined by boundaries and legal descriptions. It refers to a distinct piece of land owned by one entity.
How do parcels differ in shipping and logistics?
In shipping and logistics, parcels are packages that are transported through carrier services such as postal services, courier companies, or logistics firms.
Can a large farm be considered a parcel?
Yes, a large farm can be a single parcel of land under one ownership. If subdivided, each smaller section would become an individual parcel.
What does it mean to “parcel out”?
“Parcel out” means to divide or distribute something into smaller parts or sections.
Can multiple parcels comprise a single property?
Yes, a single property can consist of multiple contiguous parcels.
Related Terms
Subdivision
- Definition: A subdivision refers to a tract of land divided into smaller parcels or lots, often for residential, commercial, or industrial development.
Carrier
- Definition: An organization or company that provides transportation services for goods, including parcels.
Real Estate
- Definition: Real estate is property consisting of land and buildings on it, along with its natural resources and immovable assets.
Online References
- Investopedia: Real Estate Parcel
- USPS: What is a Parcel?
- National Association of Realtors: Understanding Real Estate Parcels
Suggested Books for Further Studies
- “Real Estate Principles: A Value Approach” by David C. Ling and Wayne R. Archer
- “Fundamentals of Real Estate” by Gerald R. Cortesi
- “Shipping and Logistics Management” by Yuen Ha (Venus) Lun, Kee Hung Lai, and Tai Chiu Edwin Cheng
Fundamentals of Parcel: Real Estate and Logistics Basics Quiz
### What does a parcel typically refer to in real estate?
- [x] A piece of land under one ownership
- [ ] A building on a property
- [ ] A rental agreement
- [ ] A street address
> **Explanation:** In real estate, a parcel is a defined piece of land under one ownership, described by legal boundaries.
### Which of the following is NOT an example of a parcel in logistics?
- [ ] A customer order shipped via courier
- [ ] A package sent through a postal service
- [x] A residential property lot
- [ ] A parcel sent via express delivery service
> **Explanation:** A residential property lot is a real estate term, not commonly associated with logistics or shipping.
### What does it mean to "parcel out" resources?
- [ ] Accumulate them
- [ ] Revalue them
- [x] Distribute them into smaller parts
- [ ] Ignore them
> **Explanation:** To "parcel out" resources means to distribute or separate them into smaller parts or sections.
### Can a single property consist of multiple parcels?
- [x] Yes, it can
- [ ] No, a property is one parcel only
- [ ] Only in residential real estate
- [ ] Only if they are non-contiguous
> **Explanation:** A single property can consist of multiple contiguous parcels under one ownership.
### What is necessary for a parcel of real estate to be defined?
- [x] Legal boundaries and descriptions
- [ ] Electrical service
- [ ] A building
- [ ] Road access
> **Explanation:** A parcel of real estate is defined by its legal boundaries and descriptions, regardless of the presence of other amenities.
### How are parcels related to subdivisions?
- [ ] They are unrelated
- [ ] Parcels are utilities in a subdivision
- [ ] Subdivisions reduce the value of parcels
- [x] Subdivisions divide larger parcels into smaller ones
> **Explanation:** Subdivisions refer to the act of dividing larger parcels of land into smaller, legally separate parcels.
### Which service is NOT typically involved with parcels in shipping?
- [ ] Postal service
- [ ] Courier company
- [ ] Logistics firm
- [x] Real estate agency
> **Explanation:** Real estate agencies handle property transactions, not the transportation of parcels.
### What is a common carrier in the context of parcels?
- [x] An organization that transports goods
- [ ] A real estate manager
- [ ] A construction company
- [ ] A land surveyor
> **Explanation:** A common carrier is an organization that provides transportation services for goods, including parcels.
### Why might a company "parcel out" resources?
- [ ] To consolidate them
- [x] To allocate them to different departments
- [ ] To increase storage costs
- [ ] To reduce their availability
> **Explanation:** A company might "parcel out" resources to distribute them efficiently among different departments.
### What does a parcel represent in the e-commerce industry?
- [ ] A shipping label
- [x] A package sent to a customer
- [ ] A website domain
- [ ] An office location
> **Explanation:** In the e-commerce industry, a parcel represents a package containing goods that are shipped to a customer.
Thank you for exploring the concept of “Parcel” and testing your knowledge with our quiz. Continue to deepen your understanding!
