Lots - Definition - Law Dictionary Home Dictionary Definition lots

Definition :

Lots. Parcels of land under one ownership put up separately at one sale. By s. 45 (5) of the (English) Law of Property Act, 1925, it is an implied condition of the sale that a purchaser of two or more lots held wholly or partly under the same title shall not have a right to more than one abstract of the common title, except at his own expense. As a rule the purchaser of the largest lot in value is entitled to the documents of title on completion where all the lots have been sold. [see, e.g., General Conditions of Sale, 34 (2) (i)]

As to the position of a bidder purchasing a wrong lot by his own mistake, see Van Praagh v. Everidge, (1903) 1 Ch 434.