Escrow & Title
In Michigan, 'ALTA/NSPS Land Title Survey' standards are important because they:
ASet property tax assessment standards
BEstablish minimum standards for surveys used in commercial real estate transactions to support ALTA extended coverage title insurance✓ Correct
CGovern residential appraisal practices
DSet standards for environmental assessments
Explanation
ALTA/NSPS surveys meet national standards required for ALTA extended coverage title insurance in commercial transactions. They show boundary lines, improvements, easements, encroachments, and other matters that can affect title, providing comprehensive information for underwriting.
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