The choice of whether to get corner markers is personal, and often depends upon the size and configuration of a lot. The markers can add $125.00 or more per marker to the cost of a survey. In New Jersey, when a survey order is placed, the licensed surveyor is required to advise the purchaser of the right to have corner markers installed, and to have a written signature waiving installation if the purchaser does not want corner markers. It is always important therefore to review with your attorney the survey, survey endorsement, and other matters of record which may affect the use of the property.Ī question that often arises is whether or not to have corner markers installed. For some properties there may be easements for drainage, rights of way, utilities, etc. Perhaps a fence or a playset cannot be installed within a certain number of feet of the property line. There may also be a situation where along the rear or side of the property there are certain setback lines. If a fence goes slightly over the property line and there is a claim between neighbors as to repairing or removing it, should this is listed as an exception in the survey endorsement, there will not be title insurance for the claim. This will list variations which title insurance will not cover in the event of a claim. Depending upon the nature of the property, and if there is an intention to add to the structure or to develop the property, the purchase contract should properly contemplate different scenarios and the rights of the parties.Īfter the title abstract company reviews the survey, it will issue a survey endorsement. If there is an easement, one needs to know if it interferes with the use or potential future use of the property. An alley way may be considered “common,” but it is good to know exactly where it sits as between neighboring properties. Fences are not necessarily directly on a property line and could slightly go back and forth between the neighbors. A purchaser for example wants to know that the house or a shed does not encroach onto a neighboring property, or the other way around. More importantly, the survey should be reviewed by a purchaser and the attorney to see what is on the property, and who it belongs to. A good attorney will read the metes and bounds description and compare it to the survey to make sure that it is accurate. Many purchasers and their attorneys just put the survey in the file and rely upon the title insurance company insuring the title to review it. While this may sound simple, it is an important part of due diligence when purchasing real property to not only have, but to review the survey. Yet, it is the metes and bounds which is the most important and designates what is actually being purchased. The block and lot(s) are what is used for real estate tax purposes. While most of us refer to a street address, that is just a reference and what is mostly for the post office. It is actually the metes and bounds description which is the legal description of the property that is, describing what is being purchased and mortgaged, and also which is being insured by the title insurance company. Very often monuments (pins) are put in the ground so that the surveyor and future surveyors of the area can have reference points. The term bounds is just what it sounds like: it describes a property’s boundary line. The measurement descriptions use feet, and then small increments called minutes and seconds. When the surveyor measures between two points, this is called the metes. Generally, this is the same as part of the deed and other items already of record. Common situations include the rights of the telephone company for wires to cross over the property, or a drainage easement.Īfter the measurements are taken, a description with the metes, bounds and measurements is drafted. This will include a review of items which are of record or part of the commitment for title insurance, including deeds, easements, or items on a map filed with the municipality when the area was developed. The surveyor will do some research as to the property prior to going there to take the measurements. For example, a fence may or driveway may cross over the property line. A survey should show if there are encroachments to or from the property. Measurements are taken by a licensed surveyor, and then the drawing is made which importantly shows the boundary lines of the property. Yet, there are so many other reasons to obtain a survey of the property when a new property is purchased.Ī survey is a drawing of the land, structure(s) on it, fences, driveways, pathways, easements, etc. The easiest answer to this question is: “because the lender told me so.”
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