Title Companies And The New 2011 ALTA/ACSM Requirements

Online, January 12, 2011 (Newswire.com) - Title Insurers and companies have probably heard by now that the American Land Title Association, in conjunction with the National Society of Professional Surveyors, has modified the ALTA Survey requirements which become effective on 2/23/2011. (A copy of these revised requirements are available for download on PZR.com)

One significant revision is to Optional Table A - Item 6 (almost always requested by the lender) requires the title insurer to provide an accurate zoning designation and all applicable zoning code requirements. This represents another obligation of the title insurer in an already lengthy process.

The Planning & Zoning Resource Corp. (PZR) has been providing zoning due diligence since 1994 and is America's largest zoning due diligence provider and the creator of the PZR Report®. PZR has worked with all major title companies over the years and continues to provide zoning analysis and documentation allowing your insurer to issue their Zoning 3.1and 3.0 Endorsements.

Zoning Endorsement (ALTA 3.1): Overview

Endorsement 3.1, used primarily for improved property, insures against loss or damage that may be sustained by reason of a final judgment requiring the removal or alteration of existing structures on the land by reason of their violations of the zoning restrictions imposed on the use of the land relating to the site, floor area, set-back lines, and height of the building.

Zoning Endorsement (ALTA 3): Overview

Endorsement 3.0, used primarily for vacant land before construction commences, informs the insured of the zoning classification applicable to the land and the uses permitted by that zoning classification, and insures against loss or damage that my be sustained by reason of inaccuracy in the information supplied or by reason of a final judicial determination invalidating the zoning ordinance. It may be issued with a loan policy only.

Please let PZR know if there are any questions or if assistance is needed by providing zoning information to the title insurer or surveyor. PZR has several different levels of document packages available, and can customize any of them to meet zoning document needs. The Planning and Zoning Resource Corporation (PZR) is here to provide zoning due diligence information in a timely and cost effective manner. Please call David Anderson at 1-800-344-2944 ext. 3337 for additional information or submit a quick quote via the website.

About:
The Planning and Zoning Resource Corporation www.pzr.com

PZR is America's largest Zoning Advisory firm which analyzes the risk associated with commercial property transactions and provides all available Zoning Documents. Request a quick project quote or a Zoning Compliance Report (PZR Report® ) which is supported by municipal documents and Land Title Survey review in an easy, cost effective and quick manner.

Contact The Planning & Zoning Resource Corp:
Please feel free to contact us by phone, 1-800-344-2944 or email us.
David Anderson, President
Ext. 3337
[email protected]
Website URL : Visit http://www.pzr.com