ALTA/ACSM Land Title Surveys and Complex Commercial Transactions
ALTA/ACSM Land Title Surveys and Complex Commercial Transactions
Complex commercial real estate transactions often require an ALTA/ACSM Land Title Survey prior to the completion of the real estate transaction. An ALTA survey is similar to a boundary survey, but follows guidelines/standards and rules set forth by the National Society of Professional Surveyors and the American Land Title Association. The ALTA survey requirements allow for consistent survey standards for all surveyors across the United States. This is especially critical during multi- location or multi-site real estate transactions.
ALTA Surveys are generally required by banks, lenders and mortgage companies to accompany a title insurance policy, when financing commercial and industrial properties. An ALTA Land Title survey not only identifies conditions of public record that are disclosed in a title report, but may discover unrecorded rights by a third party that can reduce the use/value of a commercial property.
These include:
# Easements that may encumber or benefit the property
# Possible encroachments across boundary lines or easements
# Access to a public street or lack thereof
# Zoning of the property along with setback requirements
# Flood Zones that may affects the subject property
# Evidence of any use by other parties
# Location of any water boundaries on the subject property
# Evidence of cemeteries
# Names of adjoining property owners
Multi-site and multi-state projects need a Nationwide Land Survey Coordination firm like SRN which specialize in coordinating and reviewing Land Title Surveys as required. A few examples of recent complex ALTA survey projects completed by SRN include the following:
# ALTA Survey for expansive Florida Hotel and Resort
# ALTA Survey for 15 Auto Dealerships across United States
# Fast Food Chains purchases multiple commercial properties and SRN provides ALTA/ACSM Survey for restaurants
# 60 ALTA Multi-site Surveys for National Retail Chain in Texas, Florida, Alabama and Georgia
A coordinator works much like a National Business Unit of a Title Company using their list of reliable contacts (surveyors) in various areas to ensure that your project is completed on time and on budget. SRN has built strong relationships and processes with surveyors, vendors and municipal corporations nationwide over the past thirty years.
For more information please visit http://www.smith-roberts.com