Choosing the right type of land survey is crucial for various real estate transactions and development projects. Two common types are ALTA surveys and boundary surveys. While both involve determining property lines, they differ significantly in scope, purpose, and the information they provide. This article will clarify the key distinctions between ALTA surveys and boundary surveys, helping you understand which is appropriate for your needs.
What is a Boundary Survey?
A boundary survey, also known as a land survey, is a fundamental type of survey that establishes the precise location of a property's boundaries. It identifies the perimeter of the land, marking its corners and lines on the ground. The surveyor uses various methods, including researching deeds, examining physical evidence like fences and markers, and employing advanced surveying equipment, to define the property limits. The primary goal is to clearly delineate the property lines for legal and ownership purposes. A boundary survey often results in a plat map showing the property's boundaries, along with any encroachments or easements.
What information does a boundary survey typically include?
A boundary survey typically includes the property's legal description, the location of improvements (structures, fences, etc.), and any easements or encroachments. It provides a visual representation of the property lines, often with significant features such as roads, waterways, or neighboring properties included.
What is an ALTA Survey?
An ALTA survey, or ALTA/ACSM Land Title Survey, is a more comprehensive and detailed type of survey specifically designed for commercial real estate transactions and lending purposes. It builds upon the foundation of a boundary survey by adding crucial details relevant to title insurance companies and lenders. ALTA stands for the American Land Title Association, which developed the standards these surveys must meet.
How does an ALTA survey differ from a boundary survey?
The key difference lies in the level of detail and the specific requirements. While a boundary survey focuses primarily on defining the property lines, an ALTA survey goes further. It includes:
- More detailed information about improvements: ALTA surveys meticulously document all improvements on the property, including their precise location relative to the property lines. This is crucial for determining potential encroachments or issues with building permits.
- Easements and encroachments: ALTA surveys carefully identify and delineate any easements (rights of way) or encroachments (structures or other features that extend onto the property from neighboring properties). This detail is essential for title insurance purposes.
- Specific requirements for title insurance: These surveys are conducted to meet the specific requirements of the American Land Title Association (ALTA) and its affiliated title insurers. The detailed information provided minimizes risks associated with title defects or boundary disputes.
- Detailed descriptions of all physical features: Beyond property lines and improvements, ALTA surveys often include detailed information about physical features like streets, utility lines, and other relevant aspects.
What are the Uses of Each Type of Survey?
- Boundary Survey: Ideal for establishing property lines for residential sales, land division, or resolving boundary disputes. It's typically less expensive than an ALTA survey.
- ALTA Survey: Essential for commercial real estate transactions, particularly those involving significant financing. It's crucial for lenders and title insurance companies to mitigate risk associated with title defects or boundary issues.
What is the cost difference between an ALTA Survey and a Boundary Survey?
Generally, ALTA surveys cost more than boundary surveys due to their increased complexity and detail. The price difference can vary depending on factors such as property size, location, and the complexity of the property lines and improvements.
Do I need an ALTA survey or a boundary survey?
The type of survey you need depends on your specific purpose. If you're simply selling a residential property and don't have significant financing or complex title issues, a boundary survey might suffice. However, if you're involved in a commercial transaction, especially with significant financing, an ALTA survey is generally required to meet lender and title insurance requirements. Consulting with a qualified surveyor and a real estate attorney is crucial for determining the appropriate type of survey for your situation.
