Real Estate Terms Dictionary
Definition of 'Merger'
According to TheFreeDictionary, merger in real estate refers to the process that unifies a greater estate with a lesser estate when both of them are held by the same individual.
What does a real estate Merger mean:
In real estate the action of merging often concerns interest in a property. For example, when the tenant of a property becomes the owner of that property, the two interests coincide. Another form of real estate merging concerns the title. Through a merger of title, two or more next-door parcels of property are joined under one title (for example, as a result of an inheritance).
Here's a real-life example from one of the properties researched on PropertyShark:
The glossary is intended to provide real estate professionals and home buyers with a basic understanding of various specialized terms related to legal rights over a property. All terms appear in public records such as ACRIS. We do not take responsibility for the legal accuracy of the definitions provided and ask that use of these explanations in a legal setting be made only after checking with a lawyer or another specialist in the field.