Boundary

Boundary
A boundary is an officially recognized and defined line that indicates the limits of a piece of property. It is often synonymous with the term 'property line' and is essential in real estate for establishing ownership, resolving disputes, and creating legal descriptions of land parcels.
Lot Line
A lot line is a boundary line that defines the perimeter of a piece of property as described in a survey.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.