What Is an ALTA Survey?
Also called an ALTA/ACSM survey, an ALTA survey describes all the parts of a property to the title company. The standards are set by the American Land Title Association (ALTA) and American Congress of Surveying and Mapping (ACSM). They include minimum standards as well as recommended optional guidelines. ALTA surveys are intended to hold property buyers, sellers and title companies to an accordant standard across the United States in order to make sure that real estate insurance and financing is done equally and fairly throughout the nation.
What Information Is Included in an ALTA Survey?
ALTA surveys in California as well as other states should include information regarding easements, property improvements and rights-of-way. If there are any other details that might affect the land ownership, then those materials should be reported in the survey as well. Additionally, the ALTA survey ought to include the names of all affected parties, such as:
• Buyer(s)
• Seller(s)
• Lender(s)
• Title company
When all the information is included and correct, the ALTA survey can provide an accurate picture of the property in question for future reference.
Why is an ALTA Survey Important?
The ALTA survey should delineate all improvements, ownerships and encumbrances for you and the title company, therefore it is important for future land development, ownership and claims. If there are any encroachments on the property, then the ALTA survey can show them so you and the title company can resolve them.