ALTA-ACSM Land Title Survey versus Boundary Survey

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Smith-Roberts National Corp. ( http://www.smith-roberts.com ) is a nationwide ALTA Land Survey coordinator and the originator of the DesignReady Survey® that specializes in coordinating and reviewing Land Title Surveys for multi-site and multi-state real estate transactions.

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ALTA-ACSM Land Title Survey versus Boundary Survey

  1. 1. ALTA/ACSM Land Title Survey versus Boundary Survey http://smith-roberts.com
  2. 2. http://smith-roberts.com Real Estate is one of the largest investments made by an individual or business. <ul><li>To protect the investment and derive a future ROI it is critical that </li></ul><ul><li>the purchaser or lender researches ALL related information of </li></ul><ul><li>the property. </li></ul><ul><li>But what is an ALTA Land Title Survey and how does it differ </li></ul><ul><li>from a boundary survey? </li></ul>
  3. 3. http://smith-roberts.com An ALTA survey is a boundary survey prepared to a set of minimum standards that have been jointly prepared and adopted by the American Land Title Association (ALTA) and the American Congress on Surveying and Mapping (ACSM).
  4. 4. http://smith-roberts.com <ul><li>A boundary survey meets the standards of the regulatory </li></ul><ul><li>industry of an individual state, whereas the ALTA/ACSM is </li></ul><ul><li>comprehensively recognized across the entire nation. </li></ul><ul><li>The objective of the ALTA/ACSM standard is to establish a level </li></ul><ul><li>of standards so that all parties in the commercial transaction are </li></ul><ul><li>ensured a common standard. </li></ul>
  5. 5. http://smith-roberts.com There are a number of items required to be shown on an ALTA survey which are not included on a typical boundary survey, including additional optional items (“Table A Items”). Some of the information shown on an ALTA Survey would be: <ul><li>Easements that may encumber or benefit the property </li></ul><ul><li>Possible encroachments across boundary lines or easements </li></ul><ul><li>Access to a public street or lack thereof </li></ul><ul><li>Zoning of the property along with setback requirements </li></ul><ul><li>Flood Zones that may affects the subject property </li></ul><ul><li>Evidence of any use by other parties </li></ul><ul><li>Location of any water boundaries on the subject property </li></ul><ul><li>Evidence of cemeteries </li></ul><ul><li>Names of adjoining property owners </li></ul>
  6. 6. http://smith-roberts.com A prerequisite to obtaining an ALTA Survey is a current title commitment. The title commitment will contain the legal description of the property and of any encumbrances to prepare the ALTA survey. <ul><li>The process of performing a boundary survey starts with a complete and thorough research of the county/municipal records. </li></ul><ul><li>The pre-survey research provides knowledge of the land and </li></ul><ul><li>potential conflicts with the surrounding lands. </li></ul><ul><li>The surveyor then has complete knowledge and can direct field </li></ul><ul><li>survey efforts accordingly. </li></ul><ul><li>A surveyor needs to be licensed in the state where the property is </li></ul><ul><li>located. But most surveyors are licensed only in the state they </li></ul><ul><li>reside in. </li></ul>
  7. 7. http://smith-roberts.com For large commercial properties which involve multi-state or multi-site transactions, it is best to hire a nationwide land survey coordination firm like SRN. Smith-Roberts National Corporation is a nationwide land survey coordination firm that specializes in coordinating and reviewing Land Title Surveys for multi-site, multi-state real estate transactions.
  8. 8. http://smith-roberts.com There are many advantages in having one firm in charge of the survey acquisition stage of a multi-site, multi-state property transaction. <ul><li>Probably the most important advantage is that professional </li></ul><ul><li>surveyors can effectively communicate the investor’s needs to other </li></ul><ul><li>licensed surveyors in a manner that they might better understand. </li></ul><ul><li>With a nationwide coordinator as liaison it greatly reduces </li></ul><ul><li>difficulties title companies or investors may experience while </li></ul><ul><li>dealing with surveyors from different regions of the country. </li></ul>
  9. 9. http://smith-roberts.com 100 N.E. 5th Street Oklahoma City, Oklahoma 73104 Smith-Roberts Email: [email_address] Phone:    405 840-7094 Fax:        405 516-2680 Toll Free: 800 411-2010

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