Escrow & Title
At a Minnesota commercial closing, a lender requires a ALTA/NSPS survey. This survey is more comprehensive than a boundary survey and shows:
AOnly the property boundary lines
BBoundary lines, easements, encroachments, improvements, and other matters affecting title✓ Correct
COnly the location of buildings on the property
DUnderground utilities and soil conditions
Explanation
An ALTA/NSPS (American Land Title Association/National Society of Professional Surveyors) survey is a comprehensive survey that shows boundary lines, all physical improvements, easements, encroachments, rights-of-way, and other matters affecting the property. Commercial lenders often require ALTA surveys before closing on significant transactions.
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