Lenders often have specific rules regarding whether or not a survey of the property will be required as a condition of the loan and, if so, the type of survey that is acceptable. These require­ments may or may not be sufficient to protect the new owner's interests. Buyers or current owners may want to obtain a survey in order to clarify their interests. Therefore, it is important that property owners be made aware of the various types of sur­veys and their costs. I can assist clients in mailing such decisions by comparing the price of each type of survey to the protection afforded.

A current survey is usually required in order to include "survey coverage" in an owner's title insur­ance policy. Information on title insurance and its function in the transaction is provided elsewhere in this summary.