An ALTA survey is conducted for the purpose of supplying the title company, buyer and lender with survey and location data necessary for issuing American Land Title Association or Extended Coverage Title Insurance. Generally required when undertaking a commercial real estate transaction, ALTA surveys must be done according to specific standards.The Professional Land Surveyors at Bedrock Engineering are experienced in conducting ALTA surveys in accordance with the standards set forth in the ALTA/NSPS Land Title Survey Specifications.
In commercial real estate, ALTA/NSPS surveys provide comprehensive information required by the title company to insure the title to the property. A typical Commercial ALTA/NSPS Land Title Survey includes the full names of all the concerned parties, namely the seller, buyer, Title Company, lender, and insurance company. Home owners sometimes also need to obtain ALTA surveys.
ALTA surveys promote standards and nationwide uniformity in land survey information. To promote uniform standards, ALTA surveys include a set of ‘base’ specifications that all ALTA surveys must meet. This is followed by a comprehensive 'Table A', which includes several ‘Optional Items’ that may be required for a particular land survey. There are also ‘Accuracy Standards’ for the ALTA/NSPS Land Title Surveys. Set by the National Society of Professional Surveyors, Inc., the accuracy standards were drafted to deal with issues such as Minimum Angle and Positional Uncertainty, Closure and Distance Requirements.
An ALTA survey, often part of a buyer’s ‘due diligence’ efforts, clearly shows:- Improvements and Easements
- Rights-of-Way
- Ownership areas
- Encumbrances
- Encroachments (if any)
- A property’s boundaries
- Other vital aspects pertaining to land ownership.