What is the process of combining multiple contiguous pieces of real property into one called?

The process of combining multiple contiguous pieces of real property into one is called assemblage. This term specifically refers to the act of joining smaller parcels of land to create a larger, unified parcel. This can be done for various reasons, such as increasing land value, making development easier, or facilitating a significant commercial project.

Assemblage is particularly important in real estate development, as larger parcels can offer more opportunities for construction and can attract larger investment or development projects. When properties are combined, the resulting single parcel may have a higher market value than the sum of the individual pieces, a concept known as the principle of highest and best use.

The other options do not relate to the process of combining real estate. Amortization refers to the gradual repayment of a loan through scheduled payments, typically involving interest. Accumulation may refer to the act of gathering or acquiring resources but does not specifically pertain to merging property. Allocation involves distributing resources or responsibilities, which does not capture the essence of combining real estate parcels. Thus, assemblage is the correct term for the process described.