Escrow & Title
A title search in Virginia reveals an unsatisfied judgment lien against the seller. This lien:
AAutomatically expires after 30 days
BMust be paid off or released before the seller can convey clear title✓ Correct
CDoes not affect the buyer since it is the seller's debt
DTransfers to the buyer after closing
Explanation
A judgment lien attaches to all real property owned by the judgment debtor in the county where it is recorded. It must be satisfied before or at closing to allow conveyance of clear title.
People Also Study
Related Virginia Questions
- A Virginia title search reveals a mechanic's lien recorded after the sales contract was signed. What should happen?Escrow & Title
- In Virginia, the seller's obligation in a contract to provide clear title at closing is satisfied when:Contracts
- A Virginia title insurance company that discovers a pre-existing lien not shown in the title search after closing must:Escrow & Title
- A Virginia deed of trust lien is satisfied when the borrower pays off the loan. To clear the lien from title, the trustee records a:Escrow & Title
- A Virginia property title search reveals a 'gap' period of 18 months where no deed is recorded in the chain of title. The appropriate remedy is to:Property Ownership
- A Virginia title search discovers a recorded lis pendens against the seller related to a pending divorce proceeding. This creates a cloud on title because:Escrow & Title
- A Virginia real estate contract requires the seller to provide clear title at closing. Which of the following would constitute a cloud on title?Contracts
- A Virginia transaction has these costs: appraisal $550, title search $400, settlement fee $750, recording fees $150. Total closing costs for these items are:Real Estate Math
Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
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.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
Math Concepts
Study This Topic
Practice More Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Virginia Quiz →