Escrow & Title
The ALTA/ACSM land title survey provides:
AAn assessment of the property's market value
BA detailed survey showing boundaries, improvements, easements, and encroachments✓ Correct
COnly the legal description from the deed
DA soil percolation test result
Explanation
An ALTA survey is a comprehensive boundary and improvement survey that identifies easements, encroachments, setbacks, and other title-relevant features.
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Key Terms to Know
Deed
A 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.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
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