An ALTA survey is a type of land survey that established a strict set of standards recognized throughout the USA and is jointly established and officially approved by the American Land Title Association (ALTA) and the American Congress on Surveying and Mapping (ACSM). It is a nationwide trade alliance embodied by title insurance companies, real estate attorneys, independent abstracters, title searchers, and real estate agencies.
Founded in 1907 and headquartered in Washington, D.C., this type of land survey is also sometimes called the “Cadillac of Surveys” and usually done for commercial properties to give the required information to buyers and lenders, in order to guarantee that the title of the land and any improvements made will meet the high level of quality.
The main purpose of ALTA land surveys is to provide national standards when it comes to information concerning surveying, to uphold the highest possible standards in the practice of land surveying and mapping, to contribute to the public knowledge and education about land surveying, to support the common good and wellbeing with its members, and to advance the land surveying profession.
Following is the contact information needed for an ALTA land survey in the Norwalk, Ohio area.
Contractors Design Engineering
Easements and/or improvements
Owners of the adjoining properties
Possible encroachments, if any
Public access to roads and utilities
Significant information regarding property ownership
Water borders within the property
An official documentation of an ALTA land survey should comprise the names of the parties concerned: the buyer, the seller, title insurance company, and lender. The land surveyor and the title insurance company work very well together to be able to make a thorough and complete survey.
Common procedures in an ALTA surveys:
1. A title company is enlisted by the client to ensure that the property meets the conditions of an ALTA survey.
2. The latest title commitment showing the official account of the property in addition to information about any exceptions, limitations, or improvements.
3. Documentation of the ALTA land survey that include the names of the title company, buyer, seller, and lender.
4. Necessary specifications such as identification of easements, location of the main building (including improvements, boundary lines), and also the site of additional buildings.
5. Drawing of the final ALTA survey map.
It is very important for buyers and lenders of commercial properties to have an ALTA land survey done as part of their evaluation of the reasonableness of their projected plans or ventures. The buyers and lenders will be able to find out any existing conditions in addition to feasible prospective use of the property that will be bought, and also to protect their investment before developing and investing their money on the land.