Business and Personal Finance Dictionary

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• SURVEY
  
  A precise physical determination of the location and boundaries of real property. Surveys are performed by qualified experts called surveyors. Survey findings are reflected in documents called surveys, survey reports, or certificates of survey. For unplatted land, the survey determines the location of the property with reference to known points. For all land, the survey shows the dimensions of the property, the location of improvements (such as buildings), and the dimensions of the improvements. Lenders use surveys to verify the legal description of property, to verify that the property discussed in appraisal reports is identical to the property owned by the borrower, and to verify that driveways, terraces, garden walls, and other structures do not cross property lines.
  
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