Monday, August 13, 2012

What Is A Plat, you ask?

Just arranged for a Plat to be included in a new property presentation.

Why do you need a survey, you ask?

A survey of record is a drawing done by a surveyor to convey a graphic image of the land and the house on it.  This is useful in seeing property line setbacks and determining lot lines, relative to the house.  It's required as a part of the sale of a house by the lender to assure that the new owners will have unimpeded access to the property and to make sure that the fence lines are correct.
Furthermore, it allows the owner to see actual lines of ownership vs. existing fences, potentially.

In one property that had been sold multiple times with no trouble, our house location survey uncovered a sad but undeniable truth.  The house was in the setback, and thus illegal to change as no permits could be issued on a property that had title defects.  What to do?  The new title insurance would not be written and we were in a position where we might not be able to buy the property.  The answer was to return to the last time the property had title insurance and ask that company to indemnify this transaction.  It was their mistake and their insurance that would take us out of the problem

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