Title Insurance and ALTA/ACSM Land Title Surveys

Title insurance plays a critical role in protecting lender and purchaser investments. In fact, most commercial real estate transactions require title insurance. Title Insurance firms rely upon a current and accurate land title survey of the property based on the new 2011 ALTA standards.

The American Land Title Association (ALTA) and the American Congress on Surveying and Mapping (ACSM) have developed the ALTA/ACSM Land Title Survey standards to use in preparing these surveys. An ALTA survey shows the property’s legal description, improvements, easements, rights-of-way, and other elements impacting the ownership of land. Additional items such as topographic data, utilities, site improvements, zoning and hazard land information may be requested as optional items in Table A.

A prerequisite to obtaining an ALTA Survey is a current title commitment. The title commitment will contain the legal description of the property and of any encumbrances to prepare the ALTA survey. An ALTA Survey will then provide the title company with the information required to insure the title to the land and improvements to the high degree that a commercial development may require.

Commercial real estate transactions spanning several states and multiple property sites typically cannot be handled by a single surveyor since most states require the surveyor be licensed within that particular state. Plus, contacting and instructing multiple surveyors can become a logistical nightmare. That’s why title companies and insurers hire national ALTA Survey Coordinators, Smith-Roberts National Corporation. SRN creates a huge value to multi-site and multi-unit complex transactions. Advantages of hiring a nationwide land survey coordination firm like Smith-Roberts National Corporation which specialize in coordinating and reviewing land title surveys for multi-site, multi-state real estate transactions, are listed below.

• SRN is the single point of contact throughout the ALTA survey coordination process
• SRN will assist in all aspects of the project including delivery, site contact, schedules, arrangements, inspection, title coordination, survey map inspections, communication and more
• SRN interfaces with the Title companies and surveyor for all title documents
• Nationwide Coverage
• Provides zoning analysis, due diligence and zoning reports through the Planning and Zoning Resource Corporation
• Land title survey quote within 24 hours

SRN has built strong relationships, structure and processes within a network of surveyors across the United States. Smith-Roberts National Corporation leverages the relationships to provide quick and high quality service to clients, both large and small, to ensure the new 2011 ALTA requirements are being followed.