Closings glossary
Survey reading
Review of an existing survey to confirm it still matches the property and the record. It determines the wording of the survey exception on the policy.
What is a survey reading?
Quick Answer
The full definition
Review of an existing survey to confirm it still matches the property and the record. It determines the wording of the survey exception on the policy.
Where does survey reading come up in a New York City closing?
A survey reading on a Queens two-family confirms the 1994 drawing still matches, so the exception is narrowed instead of left as a general one.
What else should you read before closing?
In the glossary
- SurveyA surveyor's drawing of the parcel, its improvements and any encroachments. Lenders on houses and townhouses generally require a current one or a s...
- Title exceptionA matter the title policy does not insure against, listed on Schedule B. Some exceptions are removed before closing and others are simply accepted ...
- EndorsementAn add-on that modifies a title policy's coverage for a defined risk. Endorsement charges come from the filed New York rate structure rather than f...
- EasementA right to use part of another owner's property for a specific purpose. Easements appear as exceptions on a title report and generally survive a sa...
- Adverse possessionA doctrine under which long, open and exclusive use of another owner's land can ripen into legal title. It matters at closing when a survey shows a...
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