Friday, June 3, 2011

Real Estate Terms | What is the Difference Between a Survey and an ...

A land survey is a process used to accurately locate the boundaries and monuments of a given property. The ILC (Improvement Location Certificate), on the other hand is a certificate and not a survey. It is a certificate highlighting the surveyor?s judgment stating that the buildings and the major monuments seem to be located on the property the way it is described in the deed.

The difference between ILC and survey is that the surveying techniques used for making the Improvement Location Certificate (ILC) is not enough to exactly pinpoint the property?s location and dimensions. These techniques are also insufficient to determine the precise location of improvements upon or next to the property under consideration. The measurements shown on the Improvement Location Certificate are the property line?s record position approximate values and this property line can be changed if a full survey is carried out. If the Improvement Location Certificate suggests that encroachments may exist but cannot be verified, then in such a case a special note to conduct a land survey may be issued in order to determine the property line location. Most often properties are free from encroachments, in which case the Improvement Location Certificate is all that the mortgage company and the title company will need eliminating the expense required to carry out a land survey.

Many time extensive surveys are required to resolve any potential issues encountered while taking the measurements for an Improvement Location Certificate. These extensive surveys have rigorous procedures in order to locate the boundary line and are capable of locating and replacing property corners. A full survey helps to identify and locate future improvements. It is recommended not to carry out any type of construction, like building a fence, based on the Improvement Location Certificate. This is because the property lines are merely record positions that are subjected to change. On the other hand extensive land survey is recommended for construction purposes.

Typically any one, homeowners, mortgage companies, title companies, buyers or sellers, can order the Improvement Location Certificate. Some title companies require the Improvement Location Certificate in order to ascertain that the structures or the improvements that are being bought actually exist on the property and that there are no encroachments from the nearby properties. The Improvement Location Certificate shows a graphical representation of the property under consideration. The standard format of the Improvement Location Certificate is one legal size sheet of paper, but may change depending upon the size of the property whose details it covers.

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