Property Ownership
In Kansas, what is a 'boundary survey' and when is it needed in a real estate transaction?
AA survey of the neighbor's property
BA professional measurement establishing the exact boundaries of a parcel, needed when boundary lines are uncertain, for new construction, or when lenders require it✓ Correct
CA county assessor's annual review of property lines
DAn aerial survey of a large agricultural parcel
Explanation
A boundary survey establishes the exact legal boundaries of a parcel. It is typically ordered when the boundaries are unclear, when construction near property lines is planned, or when lenders require it for title insurance purposes.
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Key Terms to Know
Title Insurance
Insurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
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