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What to Know About an ALTA/ACSM Survey

Jul 03, 2023

When it comes to real estate transactions, an ALTA/ACSM survey plays a crucial role in providing detailed information about the property. According to the Intergovernmental Committee on Surveying and Mapping, the oldest ownership of land was recorded in Ancient Egypt in approximately 3000 BCE. While times have changed a lot since then, ownership of land is still something that is recorded, and ALTA/ACSM surveys may play a role in this. Here are a few common questions pertaining to these surveys and the answers.

What Is an ALTA/ACSM Survey?

An ALTA/ACSM survey is a type of survey that meets the standards established by the American Land Title Association (ALTA) and the American Congress on Surveying and Mapping (ACSM). It’s typically performed during commercial real estate transactions or when requested by lenders, title companies, or attorneys.

What Elements Are Included in an ALTA/ACSM Survey?

An ALTA/ACSM survey includes several elements that extend beyond a standard boundary survey. These elements often vary based on the specific requirements of the project or the requests of the involved parties. Some common elements covered in an ALTA/ACSM survey include property boundaries, easements, encroachments, rights-of-way, zoning classifications, flood zones, visible improvements, utility locations, and access points. An ALTA/ACSM survey helps identify any potential title issues or conflicts that may affect the property’s marketability or intended use.

Why Are ALTA/ASCM Surveys Important for Real Estate Transactions?

An ALTA/ACSM survey is essential in real estate transactions for several reasons. First, it helps ensure that all parties have a clear understanding of the property’s characteristics and potential limitations. This knowledge allows buyers, lenders, and title companies to make informed decisions based on accurate information. Additionally, it helps identify potential issues or conflicts that may impact the property’s value or legal rights. By addressing these issues before completing the transaction, parties can negotiate necessary adjustments, obtain appropriate insurance coverage, or seek legal remedies. Ultimately, an ALTA/ACSM survey provides a reliable assessment of the property, enhancing transparency and mitigating risks in real estate transactions.

An ALTA/ACSM survey is a survey that provides an in-depth assessment of a property, going beyond standard boundary surveys. Its comprehensive analysis of boundaries, improvements, easements, and other key elements is vital in real estate transactions, ensuring transparency, minimizing risks, and facilitating informed decision-making. If you are looking to have an ALTA/ACSM study completed, Stoeckel Jahner Land Surveying can help. Reach out to us today to discuss your specific project and how we can help.