What does the term 'tier' refer to in real estate?

The term 'tier' in real estate refers to a specific area of land defined by baselines. In the context of land surveying and geography, a tier is often used to describe the divisions of land that are created based on coordinate systems, particularly in reference to the Public Land Survey System (PLSS). This system breaks land into townships and sections, with tiers running east to west, helping to organize land for purposes such as sales, development, and assessing property boundaries.

Understanding tiers is crucial for anyone involved in real estate, as it deals with how land is sectioned off and can influence zoning, land use plans, and property values. In contrast, the other choices relate to different aspects of real estate but do not accurately define what a 'tier' means in the context of land division.