What does a mortgage or title insurance company have to do with ILCs?
ILC’s are certified by a licensed surveyor for the benefit of mortgage companies and title insurance companies, but are not surveys in the strict sense of the word. Before a mortgage or title insurance is issued, the interested parties want to have some assurance that the improvements on the subject property do not encroach onto adjoining properties, and that neighboring improvements do not encroach onto the subject property. In most cases an Improvement Location Certificate will be sufficient to show the relationship (location) of the structures (improvements) to the deed lines as described in the legal description. Distances from the major structures to the nearest deed lines will be shown. This information can show encroachments onto other properties or into areas reserved for easements.
Related Questions
- Should I have my mortgage company set up an escrow account so I pay them taxes and insurance monthly, and they pay the tax bills and insurance payments when due?
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