In real estate, a lot or plot is a tract or parcel of land owned or meant to be owned by some owner(s). A lot is essentially considered a parcel of real property in some countries or immovable property (meaning practically the same thing) in other countries. Possible owner(s) of a lot can be one or more person(s) or another legal entity, such as a company/corporation, organization, government, or trust. A common form of ownership of a lot is called fee simple in some countries.
A lot may also be defined as a small area of land that is empty except for pavement or similar improvement. An example would be a parking lot. This article covers lots as parcels of land meant to be owned as units by an owner(s).
Like most other types of real estate, lots owned by private parties are subject to a periodic real estate tax payable by the owners to local governments such as a county or municipality. These real estate taxes are based on the assessed value of the real property; additional taxes usually apply to transfer of ownership and property sales. Other fees by government are possible for improvements such as curbs and sidewalks or an impact fee for building a house on a vacant lot.
The Philippines ( ( listen); Filipino: Pilipinas [ˌpɪlɪˈpinɐs] or Filipinas [ˌfɪlɪˈpinɐs]), officially the Republic of the Philippines (Filipino: Republika ng Pilipinas), is a unitary sovereign and archipelagic country in Southeast Asia. Situated in the western Pacific Ocean, it consists of about 7,641 islands that are categorized broadly under three main geographical divisions from north to south: Luzon, Visayas, and Mindanao. The capital city of the Philippines is Manila and the most populous city is Quezon City, both part of Metro Manila. Bounded by the South China Sea on the west, the Philippine Sea on the east and the Celebes Sea on the southwest, the Philippines shares maritime borders with Taiwan to the north, Vietnam to the west, Palau to the east and Malaysia and Indonesia to the south.
The Philippines' location on the Pacific Ring of Fire and close to the equator makes the Philippines prone to earthquakes and typhoons, but also endows it with abundant natural resources and some of the world's greatest biodiversity. The Philippines has an area of 343,448 square kilometers (132,606 sq mi) and, as of 2015, had a population of at least 100 million. As of January 2018, it was the eighth-most populated country in Asia and the 12th most populated country in the world. Approximately 10 million additional Filipinos lived overseas, comprising one of the world's largest diasporas. Multiple ethnicities and cultures are found throughout the islands. In prehistoric times, Negritos were some of the archipelago's earliest inhabitants. They were followed by successive waves of Austronesian peoples. Exchanges with Chinese, Malay, Indian, and Islamic nations occurred. Then, various competing maritime states were established under the rule of Datus, Rajahs, Sultans or Lakans.
The arrival of Ferdinand Magellan, a Portuguese explorer leading a fleet for the Spanish, in Homonhon, Eastern Samar in 1521 marked the beginning of Hispanic colonization. In 1543, Spanish explorer Ruy López de Villalobos named the archipelago Las Islas Filipinas in honor of Philip II of Spain. With the arrival of Miguel López de Legazpi from Mexico City, in 1565, the first Hispanic settlement in the archipelago was established. The Philippines became part of the Spanish Empire for more than 300 years. This resulted in Catholicism becoming the dominant religion. During this time, Manila became the western hub of the trans-Pacific trade connecting Asia with Acapulco in the Americas using Manila galleons.
As the 19th century gave way to the 20th, the Philippine Revolution quickly followed, which then spawned the short-lived First Philippine Republic, followed by the bloody Philippine–American War. Aside from the period of Japanese occupation, the United States retained sovereignty over the islands until after World War II, when the Philippines was recognized as an independent nation. Since then, the Philippines has often had a tumultuous experience with democracy, which included the overthrow of a dictatorship by a non-violent revolution.
It is a founding member of the United Nations, World Trade Organization, Association of Southeast Asian Nations, the Asia-Pacific Economic Cooperation forum, and the East Asia Summit. It also hosts the headquarters of the Asian Development Bank. The Philippines is considered to be an emerging market and a newly industrialized country, which has an economy transitioning from being based on agriculture to one based more on services and manufacturing. It is one of the only two predominantly Christian nations in Southeast Asia, the other being East Timor. Source: https://en.wikipedia.org/
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