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 one 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 one square 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 Scotland and in several U.S. states available for purchase.