Improvement Location Certificates
The majority of land transactions in the state of Colorado close with a document known as an Improvement Location Certificates (aka ILC or Mortgage Survey, Mortgage Loan Inspection). An ILC is of fundamental importance, to disclose existing facts about a parcel of ground. An ILC is an inspection of a property conducted by a Colorado Professional Land Surveyor, to locate improvements in relation to boundary/deed lines. This is usually done to meet some requirements of either a title insurance company, lender, investor, property buyer or as stipulated in a contract to buy and sell real estate.
Its' sole purpose and intention IS NOT to determine the exact legal limits of the property, but to serve as an inspection of the property to disclose any adverse matters from a land surveying perspective, such as encroachments onto or off of the property. The ILC is relatively inexpensive and provides all interested parties invaluable information about the property.