1031.Exchange INTELLIGENCE NETWORK
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TRANSACTION & CLOSING

ALTA survey

Also called: land title survey · ALTA/NSPS survey

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PLAIN-ENGLISH DEFINITION

A detailed land-title survey prepared to recognized professional standards and commonly used in commercial real-estate transactions.

What it means in practice.

The survey can depict boundaries, improvements, easements, access and other matters relevant to title and lender underwriting.

Why it matters.

It helps reconcile what is physically on the property with what appears in the title record.

Additional notes.

The survey can depict boundaries, improvements, easements, access and other matters relevant to title and lender underwriting.

CONNECTED LANGUAGE

Related definitions.

Transaction & ClosingTitleThe legal ownership interest in real property and the rights associated with it.Transaction & ClosingDue diligenceThe investigation of a property, transaction and counterparties before closing.Transaction & ClosingZoningLocal land-use rules controlling permitted uses, density, bulk and other development or operating conditions.
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