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Common Surveys Used F or Commercial Real Estate Transactions

Learn about the common types of surveys used for commercial real estate transactions, including Improvement Location Certificate (ILC), Land Survey Plat (LSP), Improvement Survey Plat (ISP), and ALTA/NSPS Land Title Survey.

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Common Surveys Used F or Commercial Real Estate Transactions

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  1. Common Surveys Used For Commercial Real Estate Transactions Presented By: Josh Breedlove, P.L.S. Senior Project Manager Flatirons, Inc.

  2. Common Types of Survey • Improvement Location Certificate (ILC) • Monumented Land Surveys • Land Survey Plat (LSP) • Improvement Survey Plat (ISP) • ALTA/NSPS Land Title Survey

  3. Improvement Location Certificate • Primarily used for residential transactions • Used by mortgage and title companies to limit financial exposure • Commercial uses: • When a prior survey had been performedand verification is needed • On smaller commercial properties • Decision ultimately up to title company

  4. What is an ILC? • Depicts the location of permanent improvements in relation to deeded property lines • Location of parcel boundary based on found survey monuments and occupation lines • Dimensions from structures to boundary lines in a “more or less” type of format • Shows easement locations from documents provided to the surveyor • Indicates possible areas of concern

  5. Not included in an ILC • An ILC is not an official boundary survey • Deeded boundary locations are approximate • Property corners will not be set • Should not be relied upon for the exact location of a property boundary • Not for the establishment of a fence • Not to be relied upon for site design or engineering

  6. Land Survey Plat (LSP) • Sole purpose is to determine property boundary location • Commonly used for establishment of a fence • Most basic survey for property disputes • Can survey only a portion of the property • Monumented Land Survey • Property corners will be found or replaced • Plat will be filed with the county

  7. Improvement Survey Plat (ISP) • Includes all aspects of a Land Survey Plat • Shows location of all permanent improvements on the property • Depicts visible encroachments into easements or across property lines • Surface evidence of underground utilities • Design features, such as underground utilities and site topography, can be added

  8. Common Uses of an ISP • When potential encumbrances or conflicting boundary evidence are shown on an ILC • Used for a variety of development purposes • Used be architects and engineers to aid in their site design • Often required by municipalities for issuance of a building permit • Needed for zone lot amendments, and as a precursor to plats used for subdividing land

  9. ALTA/NSPS Land Title Survey • Based on a minimum set of standards prepared and adopted by the American Land Title Association and the National Society of Professional Surveyors • Standards updated February 23, 2016 • Nationally recognized set of standards • Per Colorado State Statute, ALTA must meet minimum standards of a Land Survey Plat

  10. ALTA/NSPS Land Title Survey • Most commonly used survey for Commercial Real Estate transactions • Must include: • On-site fieldwork • Preparation of a map or plat showing results of fieldwork • Additional information per requested Table A items • Certification as defined in minimum standards, except as required by state law

  11. ALTA/NSPS Land Title Survey • Includes a review of the title commitment provided by the client. • Surveyor verifies the legal description shown in the title commitment (Schedule A) • The locations and affect of the exceptions (Schedule B2) on the property • Necessary to provide surveyor with a recent title commitment and accompanying recorded documents

  12. Table A • Item 1: Monuments • Set all major corners, unless already marked • Required on all ALTA surveys in Colorado • Item 2: Address of surveyed property • As listed in documents provided to or obtained by surveyor • Or as observed during fieldwork

  13. Table A • Item 3: Flood zone classification • Location as scaled from FIRM or local maps • Item 4: Gross land area • Based on “as-measured” property boundary • Other areas can be requested

  14. Table A • Item 5: Vertical relief (topography) • Typically based on field survey data • Aerial mapping • LIDAR • Contour interval, datum and benchmark elevations must be included on survey • Expensive

  15. Table A • Item 6: Zoning • Zoning report or letter must be supplied to the surveyor • Item 6(a): List of zoning classification and requirements • Item 6(b): Graphically depict location of building setback requirements

  16. Table A • Item 7: Building Information • Item 7(a): Exterior dimensions of building at ground level • Item 7(b): Square footage • 1) Building at ground level • 2) Other specified areas • Item 7(c): Measured height of building • Item 8: Substantial Site Features • In addition to those required in Section 5 of minimum standard requirements

  17. Table A • Item 9: Parking • Clearly identifiable spaces • Striping shown on surface areas • Item 10: Division or Party Walls • a) As designated by client, location of certain division or party walls • b) As designated by client, are certain walls plumb

  18. Table A • Item 11: Utilities • Locations of utilities on or serving the property determined by: • Observed evidence • Plans requested by surveyor • Markings requested by surveyor • Excavation only truly accurate way of establishing utility locations

  19. Table A • Item 12: Government agency requirements (HUD, BLM) • Item 13: Names of adjoining land owners • Item 14: Distance to nearest intersecting street

  20. Table A • Item 15: Alternate tools and technologies for determining location of features • Rectified Orthophotography • Photogrammetric Mapping • Remote Sensing • Laser Scanning

  21. Table A • Item 16: Recent earth moving work, building construction, or building additions • Item 17: Proposed changes in street right of way lines • If information is made available by jurisdiction • Observed evidence of street construction

  22. Table A • Item 18: Wetlands • Will only locate observed delineation markers • Item 19: Offsite easements • Client to obtain permissions • Item 20: Professional liability insurance • Client designates amount • Only in effect throughout the contract term

  23. Questions??? Josh Breedlove, P.L.S. Flatirons, Inc. 3660 Downing Street, Unit E Denver, CO 80205 Phone: 303 936-9667 jbreedlove@flatironsinc.com

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