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:
ANew warranty deed
BDeed of release or certificate of satisfaction✓ Correct
CNotice of completion
DVREB clearance certificate
Explanation
When a Virginia deed of trust is paid off, the lender/trustee executes and records a deed of release (or deed of satisfaction) in the circuit court clerk's office, removing the lien from the public record.
Related Virginia Escrow & Title Questions
- Which of the following items on a Virginia Closing Disclosure is a debit to the seller?
- Which type of deed is most commonly used by trustees in Virginia foreclosure sales?
- In Virginia, who typically holds the earnest money deposit during the period between contract ratification and closing?
- In Virginia, a special warranty deed protects the grantee only against claims arising from:
- The Torrens system of title registration, used in a few jurisdictions, differs from Virginia's recording system in that:
- Under the Virginia land records system, recording a deed in the circuit court clerk's office provides:
- A Virginia settlement agent (attorney) is acting in which capacity at closing?
- In Virginia, the Virginia State Bar regulates the practice of law at closings. Which of the following must be performed by a licensed Virginia attorney?
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