Understanding ALTA/NSPS Surveys: What You Need to Know

Understanding ALTA/NSPS Surveys: What You Need to Know

ALTA/NSPS surveys are a type of land survey that is required in certain commercial real estate transactions. These surveys are often referred to as ALTA/ACSM surveys because they are governed by standards set forth by the American Land Title Association (ALTA) and the National Society of Professional Surveyors (NSPS). This article will provide an overview of what an ALTA/NSPS survey is, what it is used for, and how it can benefit both buyers and sellers in a commercial real estate transaction.

What Is an ALTA/NSPS Survey?

An ALTA/NSPS survey is a detailed survey of a parcel of land, including its boundaries, structures, and improvements. It is conducted according to a set of standards established by the American Land Title Association (ALTA) and the National Society of Professional Surveyors (NSPS). The survey will include a property description, a legal description, and a map. It will also include any easements, rights-of-way, or encroachments on the property.

What Is an ALTA/NSPS Survey Used For?

ALTA/NSPS surveys are typically used in commercial real estate transactions. They are used to provide a detailed picture of a property, and to identify any potential issues that could impact the transaction. The survey can also be used to identify any potential title issues, such as encroachments or easements, which could affect the buyer’s ability to use the property.

Benefits of an ALTA/NSPS Survey

An ALTA/NSPS survey can be beneficial to both buyers and sellers in a commercial real estate transaction. For buyers, the survey can help identify any potential issues with the property that could affect their ability to use it. For sellers, the survey can help establish a clear title to the property and ensure that there are no encroachments or other title issues that could complicate the sale. Additionally, the survey can help to ensure that all parties involved in the transaction have a clear understanding of the property and its boundaries.

How to Get an ALTA/NSPS Survey

In order to get an ALTA/NSPS survey, you will need to hire a professional surveyor who is certified by the ALTA and NSPS. The surveyor will be able to conduct the survey according to the standards set forth by the ALTA and NSPS, and will provide a detailed report that includes a property description, legal description, and map. It is important to note that an ALTA/NSPS survey is not the same as a boundary survey, and so it is important to make sure you are hiring the right type of surveyor for the job.

Conclusion

Understanding ALTA/NSPS surveys is essential for anyone involved in a commercial real estate transaction. These surveys provide a detailed picture of a property, and can help identify any potential issues that could affect a buyer’s ability to use the property. They can also help to ensure that all parties involved in the transaction have a clear understanding of the property and its boundaries. When hiring a surveyor to conduct an ALTA/NSPS survey, it is important to make sure they are certified by the ALTA and NSPS and have the experience to conduct the survey according to the standards set forth by these organizations.