Parcel vs. Property: Know the Difference
By Shumaila Saeed || Updated on December 25, 2023
A parcel is a specific piece of land, whereas property is a broader term including land, buildings, and other assets.
Key Differences
A parcel refers to a defined unit of land, having specific boundaries that are recorded and recognized legally. Property, on the other hand, encompasses more than just land; it includes any physical or intangible entity that is owned by someone. While a parcel is a component of real property, it does not represent the full spectrum of rights and assets that the term property implies.
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Nov 27, 2023
When dealing with real estate, a parcel is often identified by a unique parcel number, which helps in differentiating one piece of land from another. Property, however, can be referred to in a more holistic sense, including within it all that is owned, such as buildings, vehicles, and intellectual property. A parcel is a tangible section of the earth's surface, whereas property can be both tangible and intangible.
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Nov 27, 2023
In legal transactions, a parcel is specifically defined by its geographical boundaries and is often used to describe the extent of real estate in a deed or survey. Property rights, however, go beyond mere geography to include the rights to use, rent, sell, or bequeath both real and personal property. A parcel is a physical space, while property is a concept that defines ownership and control.
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Nov 27, 2023
Taxation is another area where these terms differ. A parcel of land can be taxed based on its size and value. Property taxes, though, may encompass more, including taxes on personal property (like vehicles or equipment) and improvements on the land. Hence, while all parcels are property, not all property is limited to parcels of land.
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Nov 27, 2023
Lastly, in the context of development, a parcel is a plot of land that may be developed or left as is. Property development, however, considers the comprehensive development of parcels of land along with the buildings and structures upon them. A parcel is a potential space for development, but property is the broader canvas that includes all developed and undeveloped assets.
Shumaila Saeed
Nov 27, 2023
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Comparison Chart
Definition
A specific piece of land with defined boundaries.
A broad term including land, buildings, and other assets owned.
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Nov 27, 2023
Legal Recognition
Identified by a unique parcel number.
Identified by ownership rights, which can be transferred.
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Nov 27, 2023
Taxation
Based on land value and size.
Includes taxes on land, buildings, and personal assets.
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Nov 27, 2023
In Real Estate
A unit of land for transaction purposes.
Encompasses all aspects of ownership in real estate.
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Nov 27, 2023
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Parcel and Property Definitions
Parcel
In legal terms, a parcel is a portion of land delineated by surveys and maps.
The developer expressed interest in the 20-acre parcel.
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Property
Intellectual property refers to creations of the mind, such as inventions or artwork.
The company holds the intellectual property rights to the software.
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Nov 08, 2023
Parcel
The term parcel can be used in shipping for a package of goods or commodities.
The courier delivered several parcels this morning.
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Nov 08, 2023
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Property
Something tangible or intangible to which its owner has legal title
Properties such as copyrights and trademarks.
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Property
Something tangible or intangible, such as a claim or a right, in which a person has a legally cognizable, compensable interest.
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Oct 19, 2023
Parcel
A group or company; a pack
"this youthful parcel of noble bachelors" (Shakespeare).
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Oct 19, 2023
Parcel
To divide into parts and distribute
Parceled out the land to their three children.
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Property
An attribute, characteristic, or quality
A compound with anti-inflammatory properties.
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Property
Something that is owned.
Leave those books alone! They are my property.
Important types of property include real property (land), personal property (other physical possessions), and intellectual property (rights over artistic creations, inventions, etc.).
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Oct 19, 2023
Parcel
A package wrapped for shipment.
I saw a brown paper parcel on my doorstep.
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Oct 19, 2023
Property
A piece of real estate, such as a parcel of land.
There is a large house on the property.
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Oct 19, 2023
Parcel
An individual consignment of cargo for shipment, regardless of size and form.
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Property
(British) Real estate; the business of selling houses.
He works in property as a housing consultant.
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Oct 19, 2023
Parcel
An individual item appearing on an invoice or receipt (only in the phrase bill of parcels).
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Oct 19, 2023
Property
The exclusive right of possessing, enjoying and disposing of a thing.
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Parcel
A division of land bought and sold as a unit.
I own a small parcel of land between the refinery and the fish cannery.
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Oct 19, 2023
Property
An attribute or abstract quality associated with an individual, object or concept.
Charm is his most endearing property.
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Oct 19, 2023
Property
An attribute or abstract quality which is characteristic of a class of objects.
Matter can have many properties, including color, mass and density.
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Parcel
An indiscriminate or indefinite number, measure, or quantity; a collection; a group.
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Oct 19, 2023
Property
(computing) An editable or read-only parameter associated with an application, component or class.
You need to set the debugging property to "verbose".
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Oct 19, 2023
Parcel
A small amount of food that has been wrapped up, for example a pastry.
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Oct 19, 2023
Property
A prop, an object used in a dramatic production.
Costumes and scenery are distinguished from property properly speaking.
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Oct 19, 2023
Parcel
A portion of anything taken separately; a fragment of a whole; a part.
A certain piece of land is part and parcel of another piece.
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Oct 19, 2023
Property
(US) A script, book, screenplay, or the like that is on the market or has been bought for commercial production as a stage play, movie, or the like.
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Parcel
To wrap a strip around the end of a rope.
Worm and parcel with the lay; turn and serve the other way.
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Oct 19, 2023
Parcel
To divide and distribute by parts or portions; often with out or into.
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Oct 19, 2023
Property
That which is proper to anything; a peculiar quality of a thing; that which is inherent in a subject, or naturally essential to it; an attribute; as, sweetness is a property of sugar.
Property is correctly a synonym for peculiar quality; but it is frequently used as coextensive with quality in general.
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Oct 19, 2023
Parcel
A portion of anything taken separately; a fragment of a whole; a part.
Two parcels of the white of an egg.
The parcels of the nation adopted different forms of self-government.
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Property
An acquired or artificial quality; that which is given by art, or bestowed by man; as, the poem has the properties which constitute excellence.
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Oct 19, 2023
Parcel
A part; a portion; a piece; as, a certain piece of land is part and parcel of another piece.
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Oct 19, 2023
Property
The exclusive right of possessing, enjoying, and disposing of a thing; ownership; title.
Here I disclaim all my paternal care,Propinquity and property of blood.
Shall man assume a property in man?
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Oct 19, 2023
Parcel
An indiscriminate or indefinite number, measure, or quantity; a collection; a group.
This youthful parcelOf noble bachelors stand at my disposing.
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Oct 19, 2023
Property
That to which a person has a legal title, whether in his possession or not; thing owned; an estate, whether in lands, goods, or money; as, a man of large property, or small property.
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Oct 19, 2023
Parcel
A number or quantity of things put up together; a bundle; a package; a packet.
'Tis like a parcel sent you by the stage.
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Oct 19, 2023
Property
All the adjuncts of a play except the scenery and the dresses of the actors; stage requisites.
I will draw a bill of properties.
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Oct 19, 2023
Parcel
To divide and distribute by parts or portions; - often with out or into.
These ghostly kings would parcel out my power.
The broad woodland parceled into farms.
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Oct 19, 2023
Parcel
To add a parcel or item to; to itemize.
That mine own servant shouldParcel the sum of my disgraces byAddition of his envy.
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Oct 19, 2023
Parcel
To make up into a parcel; as, to parcel a customer's purchases; the machine parcels yarn, wool, etc.
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Oct 19, 2023
Property
To make a property of; to appropriate.
They have here propertied me.
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Oct 19, 2023
Parcel
Part or half; in part; partially.
The worthy dame was parcel-blind.
One that . . . was parcel-bearded [partially bearded].
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Oct 19, 2023
Property
Any area set aside for a particular purpose;
Who owns this place?
The president was concerned about the property across from the White House
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Oct 19, 2023
Property
Something owned; any tangible or intangible possession that is owned by someone;
That hat is my property
He is a man of property
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Oct 19, 2023
Parcel
The result of parcelling out or sharing;
Death gets more than its share of attention from theologicans
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Oct 19, 2023
Property
A basic or essential attribute shared by all members of a class;
A study of the physical properties of atomic particles
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Property
A construct whereby objects or individuals can be distinguished;
Self-confidence is not an endearing property
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Property
Any movable articles or objects used on the set of a play or movie;
Before every scene he ran down his checklist of props
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Property
Property is legally owned land or assets.
They invested in property across several states.
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Nov 08, 2023
Property
Property encompasses buildings, land, and resources attached to the land.
Her property included a vineyard and a small lake.
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Property
Personal property is movable property that is not affixed to land.
Her personal property, including jewelry and electronics, was insured.
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Nov 08, 2023
Parcel
A parcel is a piece of land with defined boundaries.
They bought a small parcel on the outskirts of the city.
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Nov 08, 2023
Property
In the philosophical sense, a property is an attribute, quality, or characteristic of something.
The unique property of water is that it expands when it freezes.
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Parcel
A parcel can also refer to an object or collection of objects wrapped in paper, to be carried or sent by post.
She received a parcel from her friend overseas.
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Nov 08, 2023
Parcel
As a verb, to parcel out means to distribute or divide an area of land or a collection of items.
The estate was parceled out among the heirs.
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Nov 08, 2023
Repeatedly Asked Queries
Does property only refer to land?
No, property includes land, buildings, and other personal assets.
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Nov 27, 2023
What is a parcel of land?
A parcel of land is a specific piece of land with defined boundaries.
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Nov 27, 2023
Can a parcel be divided?
Yes, a parcel can be divided into smaller parcels, subject to local zoning and subdivision regulations.
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Nov 27, 2023
What is real property?
Real property refers to land and anything permanently attached to it.
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Nov 27, 2023
Are intellectual rights considered property?
Yes, intellectual rights are considered a form of intangible property.
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Nov 27, 2023
Can property include stocks and bonds?
Yes, stocks and bonds are considered personal property.
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Nov 27, 2023
Can the terms parcel and property be used interchangeably?
No, parcel specifically refers to a defined piece of land, while property is a broader term.
Shumaila Saeed
Nov 27, 2023
What does it mean to parcel out land?
To parcel out land means to divide it into smaller lots for sale or distribution.
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Nov 27, 2023
How do I find out the size of a parcel?
The size of a parcel is usually recorded in a property deed or survey.
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Nov 27, 2023
Are there taxes on a parcel of land?
Yes, parcels of land are typically subject to property taxes.
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Nov 27, 2023
Can property be owned jointly?
Yes, property can be owned by two or more parties jointly.
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Nov 27, 2023
Are natural resources on a parcel considered property?
Yes, natural resources, such as minerals or timber, are considered part of the property.
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Nov 27, 2023
Can the government take private property?
The government can take private property for public use, usually with compensation, through eminent domain.
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Nov 27, 2023
Is a leasehold interest a property?
Yes, a leasehold interest is considered a property interest.
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Nov 27, 2023
How is property ownership transferred?
Property ownership is usually transferred through a deed or title.
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Nov 27, 2023
What is a property appraisal?
A property appraisal is an assessment of a property's value, often conducted for tax or sale purposes.
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Nov 27, 2023
What is a property line?
A property line is the legally defined boundary that separates one parcel of land from another.
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Nov 27, 2023
Is digital data considered property?
Digital data can be considered property if it has been legally established as such.
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Nov 27, 2023
What does unclaimed property mean?
Unclaimed property refers to assets or accounts within financial institutions that have been forgotten or left inactive.
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Nov 27, 2023
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About Author
Written by
Shumaila SaeedShumaila Saeed, an expert content creator with 6 years of experience, specializes in distilling complex topics into easily digestible comparisons, shining a light on the nuances that both inform and educate readers with clarity and accuracy.
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