What Attorneys Need to Know Leveraging the Feasibility Assessment - PowerPoint PPT Presentation

Presenting a live 90-minute webinar with interactive Q&A 2016 ALTA/NSPS Land Title Survey Standards: What Attorneys Need to Know Leveraging the Feasibility Assessment Tool for Land Development Deals WEDNESDAY, APRIL 12, 2017 1pm Eastern | 12pm Central | 11am Mountain | 10am Pacific Today’s faculty features: Gary R. Kent, P .S., Integrated Services Director, The Schneider Corporation , Indianapolis Mary A. Slade, Underwriting Counsel, First American Title , Indianapolis The audio portion of the conference may be accessed via the telephone or by using your computer's speakers. Please refer to the instructions emailed to registrants for additional information. If you have any questions, please contact Customer Service at 1-800-926-7926 ext. 10 .

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The New ALTA/NSPS Land Title Survey Standards ~ What Attorneys need to Know ~ Strafford Publications Webinar April 12, 2017 Presented by Gary R. Kent, PS and Mary Slade, Esq.

The ALTA/ACSM (NSPS) Standards 1962 1986 1988 1992 1997 1999 2005 2011 2016 – February 23, 2016 6

The ALTA/ACSM (NSPS) Standards • 2 year process • Multiple meetings of ALTA and NSPS committees separately • Final joint meeting of both committees • ALTA – 10 members • NSPS – typically 15 surveyors at committee meeting (300+ indirect participants) 7

The 2016 ALTA/NSPS Standards • Section 1- Purpose • Section 2- Request for Survey • Section 3 – Survey Standards & Standards of Care • Section 4 – Records Research • Section 5- Fieldwork • Section 6 – Plat or Map • Section 7 – Certification • Section 8 – Deliverables • Table A 8

Preamble • NSPS is the legal successor organization to ACSM • The 2016 Standards are the next version of the former ALTA/ACSM standards 9

Section 1 - Purpose …For a survey of real property, and the plat, map or record of such survey, to be acceptable to a title insurance company for the purpose of insuring title to said real property free and clear of survey matters … certain specific and pertinent information must be presented for the distinct and clear understanding between the insured, the client …, the title insurance company …, the lender, and the surveyor professionally responsible for the survey. 10

Section 1 - Purpose …In order to meet such needs, clients, insurers, insureds, and lenders are entitled to rely on surveyors to conduct surveys and prepare associated plats or maps that are of a professional quality and appropriately uniform, complete, and accurate . [Emphasis added.] 11

What is Complete and Accurate? Of course this begs the question: What is a complete and accurate survey of real property? 12

Section 1 - Purpose … To that end, and in the interests of the general public, the surveying profession, title insurers, and abstracters, the ALTA and the NSPS jointly promulgate the within details and criteria setting forth a minimum standard of performance for ALTA/NSPS Land Title Surveys. A complete 2016 ALTA/NSPS Land Title Survey includes : [Emphasis added, and a list of criteria follows.] 13

Section 1 - Purpose An ALTA/NSPS Land Title Survey must include: i.Section 5 fieldwork ii.Section 6 plat or map (including relationship to record documents) iii.Table A items selected by client iv.Certification in Section 7 14

Section 2 – Request for Survey • Written authorization • Dealing with atypical properties – e.g., trailer parks, marinas, campgrounds – Non-fee interests • Easements • Leases • Discuss scope with affected parties 15

Section 3 – Survey Standards, etc. A. Effective Date 2/23/16 B. Compliance with jurisdictional requirements – Conflicts with other standards C. There is a normal standard of care 16

Section 3.D. Boundary Resolution Accuracy is addressed by Section 3.D. • The boundary lines and corners of any property being surveyed as part of an ALTA/NSPS Land Title Survey shall be established and/or retraced in accordance with appropriate boundary law principles governed by the set of facts and evidence found in the course of performing the research and fieldwork. [Emphasis added.] 17

Boundary Law Principles What are the “appropriate boundary law principles?” • Order of Conflicting Title Evidence • Junior/Senior relationships • Unwritten title doctrines • Control within subdivisions • Follow in the Footsteps of the original surveyor 18

Section 3 – Accuracy and Precision The Standards also address the difference between precise measurements and accurate results. 19

Section 3 – Survey Standards, etc. E. Measurement Standards ii. Uncertainties in location – Due to reference monumentation – Due to record documents – Due to occupation/possession that differs from the record lines – Relative positional precision 20

Accuracy and Precision 21

Accuracy and Precision • High accuracy + high precision = valid results . • i.e. Results that are “well -grounded on principles or evidence; able to withstand criticism or objection, as an argument; sound.” Webster’s 22

Section 4 – Records Research Request to set forth: • Record description of property to be surveyed • Record description of parent tract if original survey 23

Section 4 – Records Research Surveyor must be provided with: i.Most recent title commitment (or other acceptable title evidence) ii.Certain record documents – Adjoiners – Easements benefitting surveyed property (Schedule A appurtenant easements) – Easements burdening the property (Schedule B2 easements) iii.Unrecorded documents if desired by client 24

Section 4 – Records Research If documents are not provided, or if non- public or quasi-public documents are required to complete the survey, the surveyor shall conduct only that research: • required pursuant to the statutory or administrative requirements of the jurisdiction where the property is located • negotiated in the contract 25

Section 5 – Fieldwork A. Monuments B. Rights of way and access C. Lines of possession and improvements along the boundaries D. Buildings E. Easements and servitudes F. Cemeteries G. Water features 26

Section 5 – Fieldwork B. Rights of way and access ii. Name of ways abutting the property, and location of edges of traveled way except when no access 27

Section 5 – Fieldwork E. Easements and Servitudes iv. Evidence observed on and above the property of utilities on, over and beneath the property (with examples) [formerly optional Table A item 11(a)] 28

Section 6 – Plat or Map A. Evidence and locations gathered pursuant to the Section 5 Fieldwork B. Boundary, Descriptions, Dimensions and Closure C. Easements, Servitudes, Rights of Way, Access and Documents D. Presentation 29

Section 6 – Plat or Map B. Boundary, Description, Dimensions, Closures ii. New Descriptions • Why was a new description prepared? • Avoid new descriptions unless deemed necessary and appropriate • How the new description relates to the record • Same as? • How does it differ? 30

Section 6 – Plat or Map C. Easements, Servitudes, Rights of Way, Access and Documents ii. Summary of all rights of way, easements & servitudes • Burdening surveyed property • If evidence of same was provided to the surveyor • Record information, whether shown or not and a note if: 31

Section 6 – Plat or Map (a) Location cannot be determined from record (b) No observed evidence (c) blanket easement (d) Not on or touching surveyed property (e) Limits access (f) Documents are illegible (g) Surveyor has info that it has been released or terminated 32