Overview of ALTA Surveys
In the field of land surveying, the ALTA Survey is regarded as one of the most highly detailed products. Our esteemed client list, including members of Law Firms, Corporate Real Estate Departments, REITs, Banks, Lenders, Brokers and Title Companies, rely on our surveys to provide them with accurate information to assist in closing their transactions.
What is an ALTA Survey?
Originally, the ALTA/NSPS Land Title Survey was formulated to be a document on which the title insurer could rely to make specific underwriting decisions regarding the deletion of the standard survey exceptions within a title policy. When issuing this policy (in most cases to the lender), the holder of the policy will want the standard exceptions removed. As time has passed, the ALTA Survey has become an invaluable document on which all members of the transaction can rely to assist in determining potential risk and future benefits of owning a property.
ALTA/NSPS Land Title Survey
The ALTA Survey was first developed in 1962 by ALTA (The American Land Title Association), representing the title insurance industry; and ACSM (The American Congress on Surveying and Mapping), representing the land surveying industry – now NSPS (The National Society of Professional Surveyors). In the field of land surveying, the ALTA Survey is regarded as one of the most highly detailed products.
Other Land Surveying Services
Along with ALTA Surveys, NV5 Real Estate Transaction Services can also provide other related survey products:
ALTA Survey with Topographic
The addition of topographic information to the ALTA survey is optional Table A Item 5. The Topographic Survey is often used by architects or site development engineers. While this survey can increase costs, it offers valuable information for development that is used to answer questions about drainage or drainage easements.
An Aerial Survey can be conducted for large, non-standard properties that are typically hundreds or thousands of acres. The Aerial Survey is not as detailed as a standard ALTA Survey and should be discussed in detail with all transaction parties prior to the performance of the survey.
For more information about ALTA surveys, view our Bock & Clark Handbook for ALTA/NSPS Land Title Surveys or contact us today.