What is an ALTA Survey and why do I need one?

An ALTA survey, sometimes referred to as an ALTA/NSPS survey, is a complete extensive survey of a property and is often required by a lender. ALTA (the American Land Title Association, which is the national trade association for the title insurance industry) and NSPS (National Society of Professional Surveyors) have adopted the standards for preparing and completing land title surveys. ALTA/NSPS surveys are complex surveys that show the location of buildings, boundary lines, encroachments, and any easements on a property. ALTA/ACSM surveys also delineate the physical condition of the property.  ALTA/NSPS surveys are usually required in the purchase of commercial properties.