Escrow & Title
In Colorado, an 'ILC' (Improvement Location Certificate) is required for most residential closings to:
AA. Confirm the property's tax assessment
BB. Provide a graphic representation of improvements relative to property boundaries and easements, helping the title company issue insurance✓ Correct
CC. Certify the HVAC system is functional
DD. Confirm the property's zoning
Explanation
An ILC (Improvement Location Certificate) is a limited survey product that Colorado title companies often require for residential closings. It shows the location of improvements (structures, fences, driveways) relative to the property boundaries and visible easements.
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Key Terms to Know
Easement
A non-possessory right to use another person's land for a specific purpose.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
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