Escrow & Title
A deed that has been signed and acknowledged but not delivered to the grantee in Virginia is:
AFully effective and valid
BNot effective — delivery and acceptance are required for a deed to transfer title✓ Correct
CValid once recorded in the clerk's office
DValid once notarized
Explanation
Delivery and acceptance are essential elements for a deed to be effective. A deed signed and notarized but kept in the grantor's possession has not transferred title.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Abstract of TitleA condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
Transfer TaxA tax imposed by state or local governments when real property ownership is transferred, typically based on the sale price.
EasementA non-possessory right to use another person's land for a specific purpose.
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