Nearly all transactions involving financing for developed real estate or real estate being contemplated for development will require an ALTA/ACSM Land Title Survey.
ALTA/ACSM Land Title Surveys are conducted in accordance with an extensive and detailed set of national standards promulgated and adopted jointly by the American Land Title Association and the National Society of Professional Surveyors.
An ALTA/ACSM Land Title Survey is relied upon by the title company in issuing title insurance to the lender and owner. In addition to showing the boundaries of the real estate, it will reveal observable evidence of problems that could adversely affect title, such as encroachments onto the property by adjoiners, encroachments onto adjoiners from the property, uses by others than could result in loss of portions of the real estate by adverse possession, prescriptive easements and setback violations.
All of these conditions have the potential to negatively impact the value, use and development of a property - and they will only be known by virtue of a Land Title Survey that meets the ALTA/ACSM Standards.
A copy of the current (2005) standards, and a series of magazine columns authored by Gary Kent and addressing various aspects of ALTA/ACSM Land Title Surveys can be found at http://www.acsm.net/alta.html.
ALTA/ACSM Land Title Surveys are conducted in accordance with an extensive and detailed set of national standards promulgated and adopted jointly by the American Land Title Association and the National Society of Professional Surveyors.
An ALTA/ACSM Land Title Survey is relied upon by the title company in issuing title insurance to the lender and owner. In addition to showing the boundaries of the real estate, it will reveal observable evidence of problems that could adversely affect title, such as encroachments onto the property by adjoiners, encroachments onto adjoiners from the property, uses by others than could result in loss of portions of the real estate by adverse possession, prescriptive easements and setback violations.
All of these conditions have the potential to negatively impact the value, use and development of a property - and they will only be known by virtue of a Land Title Survey that meets the ALTA/ACSM Standards.
A copy of the current (2005) standards, and a series of magazine columns authored by Gary Kent and addressing various aspects of ALTA/ACSM Land Title Surveys can be found at http://www.acsm.net/alta.html.
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