Plats are ever-present in the world of commercial real estate, but many have no idea how they are created. In this article, we are going to briefly outline the process of creating a plat.
Land Identification & Title Search
The process of creating a plat starts with identifying the land that will be impacted by the plat. Once that land has been identified, the next step is a thorough title search that will ultimately lead to a title commitment for the land in question. This step is essential because it helps identify all ownership interests, easements, and encumbrances that impact the land.
Surveying the Land
After the title matters have been addressed, the next step is to survey the land. A surveyor will take the metes and bounds legal description of the land and use it to plot it all into a land survey, which will become the proposed plat. Then it is passed to the city or county surveyor for review and approval. These city and county officials will ensure that the plat meets all statutory requirements of the jurisdiction.
It’s important to work closely with your surveyor in order to make sure that the plat is filed properly, that all potential issues can be avoided, and that it will be accepted by the recording body.
Contact Commercial Partners in Minneapolis, MN
Commercial Partners Title Company has been facilitating commercial transactions across the United States for decades. We have the knowledge and experience to ensure your commercial transaction is a success. Our team consists of underwriters, closers, and escrow agents ready and waiting to help you through every step of your next transaction. Contact us today at our Minneapolis offices to learn more about how we can help with your next commercial title transaction!