The ALTA survey has been designed to solve specific problems that are peculiar to title insurance matters. For purposes of insuring title to a real property said to be free and clear of survey questions, an ALTA survey may be one of the requirements that would be given by a title insurance company.
The survey shows all data necessary to indicate the mathematical dimensions and relationships of the boundary represented together with the elements necessary to mathematically define each curve. It also specifies all evidence of monuments and indicate which were found and which were placed.
The character of any and all evidence of possession shall be stated and the location of such evidence carefully given in relation to both the measured boundary lines and those established by the record. All easements evidenced by record documents, those burdening and those benefiting the property, shall be indicated on the survey report.
The character and location of all walls, buildings, fences and other visible improvements within five feet of each side of the boundary lines shall be noted, including the physical evidence of all encroaching structural appurtenances and projections, such as fire escapes, steps, cornices and more.
Title insurance companies or lenders usually require an ALTA survey whenever the property is being refinanced or exchanging hands. The reason for the requirement is that commercial purchases often come with certain risks, which may include disputes about boundary lines, encroachments or easements.
The ALTA survey reveals the existing problems and helps ensure the property is clear of risk prior to purchase. The survey provides deeper research needed to uncover and resolve these issues before the purchase is made.
Put your mind at ease before purchasing any property. Although a boundary survey may cost significantly less than an ALTA survey, the ALTA survey is more intensive and will provide more comprehensive and detailed information. It ensures that your security interests and investments are protected from adverse claims that may not be disclosed by a title search.
For exact details of the survey including the fees, please call 435 623 0897.