NCEES Principles and Practice of Surveying Practice Exam

What is meant by the term “dedication” in real estate?

1. Transferring private property to a family member

2. Selling land for profit

3. Setting aside private property for public use

4. Dividing land into parcels for sale

The correct answer is: Setting aside private property for public use

In real estate, the term "dedication" specifically refers to the practice of setting aside private property for public use. This can occur in various contexts, such as when a property owner voluntarily offers land for streets, parks, or other public facilities, which may enhance the community's infrastructure and improve overall public benefit. This process is significant in urban planning and development, as it often facilitates the creation of public spaces that can be utilized by residents and visitors alike. The act of dedication may involve legal documentation, such as a deed or plat, to formally record the transfer of ownership from private to public interests. Understanding this concept is crucial for surveyors, land planners, and real estate professionals, as it impacts property rights and community development.