Importance of ALTA Land Title Survey in a Hotel Business

Jun 4, 2022

In any large industry, there is a time when business owners will likely need to look for a “surveying company near me,” this includes the hotel industry. Because a high client turnover boosts a hotel’s success, many are located in vacation destinations or areas where people travel for business. The high percentage of potential guests in these areas means many hotels are often located close together.

Because of this high level of competition, hotels are often renovated or upgraded to entice more guests. To make those updates, hotels need funding, which usually comes through commercial lenders. These entities require ALTA surveying Oklahoma services before making a loan; as such, surveying is very important for a hotel business.

 

Why Hotels Need ALTA Surveying Tulsa

ALTA surveying Tulsa provides a title company or commercial lender with the informative data needed to issue an American Land Title Association or Extended Coverage Title Insurance Policy. An ALTA survey can be understood as an advanced boundary survey, as it also includes components of title and location surveys and must follow the strict guidelines set by the American Land Title Association.

The information determined during an ALTA survey helps to ensure that the transaction between the business owner and commercial lender is worthwhile for both parties. This is because the survey helps prevent issues regarding zoning restrictions and boundary-related liabilities, such as line disputes, encroachments, or easement claims.

 

What Does ALTA Surveying Oklahoma Involve?

For an ALTA survey, a technician will evaluate the legal documents that describe the property’s boundaries, easements, topography, and ownership. They will then visit the property to survey it directly, then create a highly detailed map that:

  • Details the property’s boundaries and notes how they relate to the deed description.
  • Includes all of the utilities and improvements on the property.
  • Determines and describes any significant observations about the insured estate.
  • Lists any easements and exceptions that are cited in the title commitment.
  • Shows any zoning and flood restrictions when relevant, depending on the location.

Because this useful information is determined and defined according to strict and specific guidelines, the resulting map is highly comprehensive and plays a key role in many significant projects.

 

Considering Local and National Requirements

While the processes and equipment used to conduct a boundary survey are generally the same in any location, each state has its own land surveying standards and requirements. In contrast, an ALTA survey follows national standards, so the requirements are consistent across the country.

When utilizing an ALTA survey to expand a hotel business, construction crews and business owners still need to know local and state codes and restrictions. For example, if you are expanding your hotel’s structure to hold more guests, you must also increase the number of available parking spaces according to local zoning codes. During an ALTA survey, the technician will identify any new or changed local requirements, so the information can help you adhere to these.

 

Looking for a Surveying Company Near Me?

At Sisemore & Associates, our team of technicians has the knowledge and experience to conduct ALTA surveys efficiently and accurately. To learn more about our services, please contact us.