A _________ shows the boundaries of a property and where the footprint of the building is on the land being purchased.

Prepare for the BOMI Asset Management Test with flashcards and multiple choice questions. Each question includes helpful hints and detailed explanations. Ensure success in your exam!

A survey is a detailed drawing or map that outlines the boundaries of a property, indicating its dimensions and the exact layout of features such as buildings, fences, and other structures on the land. When purchasing a property, a survey provides essential information that helps clarify property lines and easements, ensuring that buyers are fully aware of what they are acquiring. It can also highlight any encroachments or issues that might affect ownership or usage rights.

In the context of asset management, a survey is critical for understanding the physical layout and potential limitations of a property, making it an invaluable tool for effective management and planning. By clearly marking where the building's footprint lies on the land, surveys help in making informed decisions regarding development, zoning restrictions, and compliance with local regulations.

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