CHCP Property Survey & Boundary Issues 4

Question 1

What is a 'lot line adjustment' and when might it be needed at closing?

Accepted Answer

A recorded document that relocates the boundary between two adjacent parcels

Answer

A lot line adjustment is a recorded process that shifts the boundary between adjoining lots, often needed when structures or improvements encroach across the existing line.

Question 2

What does the term 'riparian rights' refer to in the context of property surveys near water?

Accepted Answer

The property rights of landowners whose land borders a stream, river, or lake

Answer

Riparian rights are the water-use and access rights held by property owners whose land abuts a natural waterway, which must be noted in surveys of waterfront property.

Question 3

A survey shows a 'hiatus' between a property and a road. What does this indicate?

Accepted Answer

There is a gap of land between the property boundary and the road not included in the subject parcel's deed

Answer

A hiatus is a strip of land between a parcel and an adjacent road or another parcel that is not included in either property's deed, creating a potential title problem.

Question 4

What is the significance of a 'centerline' deed description for a property adjacent to a road?

Accepted Answer

It indicates the property boundary extends to the center of the adjoining road right-of-way

Answer

A centerline description means the property extends to the center of the adjacent road, so if the road is ever vacated, the owner typically receives the road's half adjacent to their parcel.

Question 5

Which type of survey is specifically required when a lender finances a new commercial property and wants maximum protection against survey-related title risks?

Accepted Answer

ALTA/NSPS Land Title Survey

Answer

ALTA/NSPS Land Title Surveys meet the strict standards of the American Land Title Association and are required by most commercial lenders to identify all boundary, easement, and encroachment issues.

(CHCP) Certified Home Closing Professional Practice Test

(CHCP) Certified Home Closing Professional Practice Test

CHCP Property Survey & Boundary Issues 4