Real Property Report |
| The Association has prepared a brochure to help you understand Real Property Reports. Copies of Association brochures can also be ordered using our on-line form. What is a Real Property Report? Who needs a Real Property Report? How does a Real Property Report protect you? How does municipal compliance protect you? How long is a Real Property Report valid? How can I get a Real Property Report updated? Your Real Property Report will show: How is a Real Property Report prepared? How much does a Real Property Report cost? Who are Alberta Land Surveyors? The benefits of a Real Property Report: What is a Real Property Report?A Real Property Report is a legal document that clearly illustrates the location of significant visible improvements relative to property boundaries. (Improvements to be shown are outlined in Part D, Section 8.5 of the Manual of Standard Practice.)Over the years, the standards for Real Property Reports have changed. It takes the form of a plan or illustration of the various physical features of the property, including a written statement detailing the surveyor’s opinions or concerns. It can be relied upon by the buyer, the seller, the lender and the municipality as an accurate representation of the improvements on your property. Who needs a Real Property Report?Property owners, to be informed of:
Property Purchasers, to be informed of:
Municipalities, to assist them:
Property Sellers (vendors), to provide:
Mortgage Lenders, to be informed of:
Realtors, to:
How does a Real Property Report protect you?Purchasing a property may be the largest financial investment you ever make. With a Real Property report, owners are aware of any boundary problems. They know whether their new home is too close to the property line, or part of their garage is on their neighbour’s land, or vice versa.“Good boundaries make good neighbors!” Since legal complications may occur if a sold property fails to meet requirements, a Real Property Report protects the seller. How does municipal compliance protect you?A Real Property Report is necessary to determine compliance with municipal bylaws. A municipality reviews and endorses the Real Property Report and indicates if the improvements meet the requirements of the local bylaws. The property owner can then resolve any outstanding issues identified by the municipality. Early preparation of a Real Property Report significantly speeds up the process of selling a property.How long is a Real Property Report valid?The Real Property Report is a “snap shot” of the property on the date of the survey. Changes are often made to improvements on a property or adjoining properties. These may be new or modified fences, decks, driveways, garages or other features. Only an updated Real Property Report can show their location relative to property boundaries. Changes to your title will also be shown.How can I get a Real Property Report updated?In many cases, it is more economical to update an existing Real Property Report. Contact the Alberta Land Surveyor who did the original Real Property Report.Your Real Property Report will show:
How is a Real Property Report prepared?A registered Alberta Land Surveyor is the only individual who can legally prepare a Real Property Report. A valid Real Property Report must bear the original signature and permit stamp of the Alberta Land Surveyor. In preparing a Real Property Report, an Alberta Land Surveyor will:
How much does a Real Property Report cost?The amount of work to prepare a Real Property Report varies between properties. Lot size and shape, number of buildings, natural features, age and availability of the property boundary information all affect the cost.A Real Property Report is only a small portion of your total property investment and may help you avoid costly problems in the future. A Real Property Report does not include replacement of any property corner posts. Arrangements can be made to have property boundaries visibly marked on the ground. It is most economical to have this additional service performed at the time of the survey. Neighboring landowners occasionally share the cost because of the mutual benefit of the Real Property Report and marking of boundaries. Who are Alberta Land Surveyors?Alberta Land Surveyors are professionals – current standards require a university degree followed by an articling period and a series of professional examinations. Land Surveyors are governed by provincial law with a mandate to protect the public’s interest in matter of real property boundaries. Additionally, they must be registered with the Alberta Land Surveyors’ Association. An extensive practice review program ensures surveyors maintain high professional standards.An Alberta Land Surveyor is fully responsible for the accuracy of the information in a Real Property Report. Land Surveyors carry professional liability insurance as added protection for the consumer. The following Alberta Land Surveyors prepare Real Property Reports:
The benefits of a Real Property Report:
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