Thursday, September 22, 2016

Why is an ALTA Survey needed?


Many parties to a real estate transaction rely on the ALTA/NSPS Land Title Survey for the following:

  • As part of due diligence when property is being transferred or refinanced.

  • To locate both record and non‐record matters that aect the property which can be critical for evaluating whether or not to proceed with the acquisition.

  • Showing interested parties the potential risks and benefits from property ownership recognizing issues such as:  boundary line conflicts,  encroachments, easements, contiguity between parcels, access to highways, zoning issues, and other potential losses and claims against the land  that may arise after  purchase.

  • To satisfy the Title Insurer’s requirements for the issuance of ALTA Title Insurance coverage for survey risk such as encroachments, boundary disputes, etc.

  • Removing survey exceptions from a title commitment. 

  • The dates on the ALTA/NSPS survey provide verification of actual matters as they existed before the survey. This protects sellers of property from claims that may be brought by the lender or buyer after conveyance. 

If you have any questions, please feel free to contact us with any of our partner companies or 

Best regards,

Ricardo Neyra

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