The American Land Title Association (ALTA) and the American Congress on Surveying and Mapping (ACSM) have revised the ALTA/ACSM Land Title Survey requirements for 2011.
This is the first significant rewrite of the Standards since they were first adopted in 1962. They became effective 2/23/11.
The basic principle of the ALTA/ACSM Land Title Survey is to create minimum standards for the survey so that insurers, lenders, owners, and others can rely on a professional-quality survey that is uniform, complete and accurate.
Typically an ALTA/ACSM Land Title Survey is required to obtain Title Insurance on commercial property. There are some exceptions to this, but commercial property is the most common area that we see.
From a Surveyors’ viewpoint some of the most notable changes are:
The location, size, and type of monument are required to be noted on the survey.
The surveyor is required to be provided with the adjacent recorded property deeds and to compare the legal description with the subject legal description to determine if there are any gaps or overlaps between them.
All visible improvements within 5 feet of the property lines are to be located and mapped on the survey.
The survey must show all monuments used to establish the property boundary lines.
The recording data of adjoining properties and all plats must be stated on the survey.
A vicinity map is now required.
The email address of the surveyor is required.
Current zoning classifications and building setbacks or restrictions, if requested in Table A, are to be provided by the insurer.
The new Standards will provide more property details for lenders, insurers and owners. Most notably is the requirement that the Surveyor thoroughly reviews the property’s legal description with the adjoining property descriptions and notes if any conflicts that may exist.
Otto Associates has completed an ALTA/ACSM Land Title Survey under the new requirements. Many of the 2011 requirements were already being provided by us under the previous Standards. Therefore, we support the new Standards since they will impose a higher standard of care for all Surveyors.
If you’d like to review the new Table A form, we posted it on the RESOURCES page of our website. And as always, feel free to contact us if you have questions or need an ALTA/ACSM Survey prepared.