A Real Property Report (RPR) is a legal document prepared under the supervision and control of an Alberta Land Surveyor that illustrates the size and location of all visible improvements on a parcel of land relative to the boundaries of that parcel. This document is based on a field survey to obtain measurements to the existing improvements and the survey monumentation that governs the parcel boundaries, as well as a plan and title search to confirm the status of the parcel and surrounding lands.
A Real Property Report is normally carried out to facilitate the purchase of a property. Lending institutions want to ensure they are lending funds on properties that are in compliance with the required setbacks and site restrictions demanded by the municipality of jurisdiction. Submission of the Real Property Report to the municipality will assist you in obtaining a Building Compliance Certificate to facilitate your mortgage transaction.
A Real Property Report can also be used by a prospective purchaser to merely confirm the existence and location of improvements and encumbrances with respect to the parcel.