Published on August 15th, 2023
Were you about to purchase a home and get ready to close on the deal when all of a sudden the lender pulls out unexpectedly? If so, then you might’ve unknowingly stepped on an issue called an ALTA issue.
ALTA issues are things with the property or home caused by the seller and not your lender. If you skip out on the ALTA survey, you run the risk of being sued by the lender if they discover it later on.
This can be devastating to your deal, so make sure to only buy homes with clear, clean, and title searches!
Not quite sure what we’re talking about? Let’s fill you in. Read on to learn everything there is to know about the ALTA survey and everything it entails.
The Basics Of An ALTA Survey
It is conducted to provide comprehensive land survey information. It is the standards of the American Land Title Association (ALTA) and the National Society of Professional Surveyors (NSPS).
The survey incorporates a boundary survey, a topographic survey of the land, and plotting of the easements and encroachments.
Find an alta land surveyor that can assist you in conducting the real estate transaction. They can provide the most up-to-date information that is available.
With the survey, buyers and owners are given a comprehensive look at the property so that they can make their decisions in a more confident manner.
Read More: What To Expect From A Career In Healthcare
ALTA Survey Requirements
There are some specific requirements for an ALTA survey. These are the following:
Accurate Planimetric Survey
Alta Surveys require an accurate planimetric survey in order to meet the standards of accuracy and quality required and accepted by the client.
The survey shall include the horizontal and vertical position of the features on the ground, points of obstruction, and the position of height and line corners
Accurate Boundary Determinations
It allows a land surveyor to identify the exact locations of all boundaries of a property. The accuracy obtained through this process is essential for development, construction, and other activities involving land.
Topographic Information
The purpose of this request is to provide specific detail of the existing topography of the land being surveyed that is not necessarily common in traditional surveys.
This is a comprehensive evaluation of factors that could affect the title of a surveyed property.
Pertinent Monumentation
Proper monumentation helps to ensure a property boundaries are accurate and correctly identified in the public record.
The responsibility of a surveyor to search for and identify pertinent monuments is a critical part of the process of surveying and mapping.
You May Also Like: Reasons To Pursue A Career In Travel Nursing
Evidence Of Ownership
This reassures the surveyor that the survey results will be accurate and reliable, as the property is not in dispute. It grants the surveyor access to adjacent properties for the purpose of conducting the survey.
Without the necessary evidence of ownership, the surveyor may not be able to complete the survey to the required standards.
Discovering The Definition And Explanation Of Alta Survey
An ALTA Survey is a detailed and comprehensive survey of a property or parcel of land that is used to determine boundaries and other legal details.
It is an important document for a reliable, legal read on land. If you need an ALTA Survey, contact a licensed land surveying company today for more information!
Visit the main blog part of our website for more in-depth articles.
Read More: Kickstart Your Trucking Career With Ease
