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As part of an effort to revamp and modernize title insurance policies and land surveys, this year, the American Land Title Association (ALTA) and the National Society of Professional. ....
To embed, copy and paste the code into your website or blog: Earlier this year, the American Land Title Association (ALTA) and the National Society of Professional Surveyors (NSPS) implemented the revised 2021 Minimum Standard Detail Requirements (“2021 Standards”) for surveys. If a contract to provide an ALTA/NSPS survey is executed after February 23, 2021, the survey must comply with the updated 2021 Standards. With the transition to the 2021 Standards, project developers are wrestling with the changes to an optional item, Table A Item 11, which adds certain specifications regarding the depiction of evidence of utilities. Table A Item 11 is a standard survey requirement from financing parties and purchasers of renewable energy projects. With the previous 2016 Standards, if Table A Item 11 was requested, the surveyor identified evidence of utilities existing on the surveyed property through observed evidence, utility company’s plans requested by the surveyor, and an ....
To print this article, all you need is to be registered or login on Mondaq.com. As the market bounces back from the effects of the COVID-19 pandemic, government closures, and a recession, things are picking up and getting busy in the commercial real estate industry. With the first quarter of 2021 officially over, this article outlines some of the most important real estate changes that have taken place in 2021 so far and what may be coming. All U.S. Markets New 2021 Minimum Standard Detail Requirements for ALTA/NSPS Land Title Surveys Effective Feb. 23, 2021, the 2016 Minimum Standard Detail Requirements for ALTA/NSPS Land Title Surveys (the 2016 ....
Effective February 23, 2021, the 2016 Minimum Standard Detail Requirements for ALTA/NSPS Land Title Surveys (the “2016 Standards”) were replaced by the new 2021 Minimum Standard Detail. ....
Thursday, March 4, 2021 Effective February 23, 2021, the 2016 Minimum Standard Detail Requirements for ALTA/NSPS Land Title Surveys (the “2016 Standards”) were replaced by the new 2021 Minimum Standard Detail Requirements (the “2021 Standards”). Moving forward, all ALTA surveys prepared in connection with contracts executed on or after February 23, 2021 must comport with the new 2021 Standards. The 2021 Standards can be accessed here. The 2021 Standards include the same eight sections as the 2016 Standards that detail the minimum requirements for ALTA surveys, along with the separate “Table A” optional survey responsibilities and specifications that may be requested (and negotiated) by the parties. However, several revisions were made throughout with the most significant ones being set forth below, as compared with the formerly-utilized 2016 Standards. ....