The ALTA/ACSM Land Title Survey, commonly known as an ALTA Survey, is a land survey that includes a “boundary survey”, the improvements typically shown in an “as-built survey”, the matters disclosed in a recent title search of the property and complies with the specifications detailed in the ALTA/ACSM Minimum Standards. Its been the gold standard for real estate attorneys that demand a comprehensive due diligence evaluation be performed for their clients buying commercial real property.
The current standards went into effect in February 2011 but are soon going to change. Committees from the American Land Title Association (ALTA) and the National Society of Professional Surveyors (NSPS) have been meeting and discussing over 14 pages of suggested revisions to the 2011 standards and the new version is anticipated to become effective on February 23, 2016.
Millman has always offered on-site seminars to clients or groups that are interested in learning about the standards. Given that these changes are soon to affect everyone, we anticipate a higher than normal seminar schedule. Be sure to schedule your seminar as soon as possible so that your group will be ready to implement the changes in your deals when they go into effect. To schedule your seminar contact Vincent Macauda at 330-342-6230.