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what is an ALTA/ACSM survey?
ALTA/ACSM surveys are the most comprehensive survey you can get and are often required by lenders and title companies. Developed by the ALTA (American Land Title Association) and ACSM (American Congress on Surveying and Mapping) or NSPS (National Society of Professional Surveyors), they follow a set of minimum standards to promote uniformity and cover all aspects of a boundary survey, as well as identifying additional evidence of possession or improvement. Though expensive due to their extensive research and fieldwork, their thoroughness is essential for those acquiring properties.
ALTA surveys help buyers and developers assess commercial properties, ensure compliance, identify legal issues, and recommend additional work. They give peace of mind, reducing legal disputes and ensuring property regulation is met.
ALTA/ACSM surveys minimize the risk for commercial real estate buyers by providing accurate descriptions of property boundaries, improvements, easements, rights-of-way, and other elements that may impact value. This helps buyers visualize what they are purchasing and reduces the chances of disputes or future problems.
ALTA/ACSM surveys document parcel features that impact land ownership, including encroachments and unrecorded uses. They provide comprehensive information to title companies and ensure that all exceptions are identified and addressed. This due diligence preserves resources and protects real estate assets for future resale.
The information that is displayed on an ALTA/ACSM survey can also be useful for future property re-design and development as it provides architects with as much information as possible, resulting in fewer surprises and setbacks down the line.
what’s included in an ALTA?
ALTA surveys provide detailed information about a property and provide a comprehensive list of elements to ensure clear and actionable information about land. These elements include…