Humber/Ontario Real Estate Course 4 Exam Practice

What does the acronym POTL stand for?

1. Parcel of Tied Land

2. Parcel of Titled Lot

3. Part of Title Land

4. Part of Titled Lot

5. Property of Tied Land

6. Property of Title Land

The correct answer is: Parcel of Tied Land

The acronym POTL stands for Parcel of Tied Land. This term is commonly used in real estate to describe a specific type of land parcel that is connected or tied to a particular piece of land or property, often in relation to shared ownership, easements, or common elements in a development. Understanding this term is important in the context of property law and real estate transactions, particularly when dealing with properties that share amenities or common spaces. The other options, while they may seem plausible interpretations, do not accurately reflect the established terminology used in real estate. For instance, "Parcel of Titled Lot" and "Part of Titled Lot" imply ownership and subdivision but do not capture the unique aspects of what "tied land" signifies in a legal or contractual context. Thus, recognizing the specific terminology, such as POTL, is essential for clarity in real estate documentation and discussion.