Virginia Escrow & Title
Practice Questions & Answers (2026)
Escrow, title, and closing questions on the Virginia exam test how real estate transactions are closed, how title is transferred, and what happens at settlement. Virginia uses title companies or settlement agents to handle closings, and candidates must understand the closing process, settlement statement, and title insurance requirements under Virginia law. Title insurance, title searches, and the difference between standard and extended coverage policies are tested, as are the specific closing costs that are customarily paid by buyers vs. sellers under Virginia practice.
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Virginia Escrow & Title — Practice Questions & Answers
116 questions on Escrow & Title from the Virginia real estate question bank. First 10 are free — sign up to unlock all 116.
Q1. In Virginia, who typically holds the earnest money deposit during the period between contract ratification and closing?
Explanation
In Virginia, earnest money is typically held in escrow by a neutral third party such as a title company or the broker's escrow account until closing or other resolution.
Q2. A title search in Virginia reveals an unsatisfied judgment lien against the seller. This lien:
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.
Q3. An owner's title insurance policy in Virginia protects:
Explanation
An owner's title insurance policy protects the buyer/owner from financial loss due to title defects, liens, or other encumbrances that existed prior to the policy date but were not discovered during the title search.
Q4. In Virginia, recording a deed serves primarily to:
Explanation
Recording a deed provides constructive notice to the public of the grantee's ownership. It does not create the transfer (delivery and acceptance of the deed do that), but it protects the grantee against subsequent claims.
Q5. In Virginia, a deed of trust has how many parties?
Explanation
A Virginia deed of trust involves three parties: the borrower (trustor/grantor), the lender (beneficiary), and a neutral third-party trustee who holds bare legal title as security for the loan.
Q6. In Virginia, a 'wet settlement' means:
Explanation
Virginia is a 'wet settlement' state, meaning the buyer receives the keys and the seller receives the proceeds at the same closing, with simultaneous exchange of deed and funds.
Q7. In Virginia, who customarily performs the closing/settlement?
Explanation
In Virginia, closings are customarily handled by attorneys or title company agents. While not legally required to be conducted by an attorney (unlike some states), attorneys commonly perform closings.
Q8. A chain of title in Virginia refers to:
Explanation
A chain of title is the complete chronological history of all recorded ownership transfers and encumbrances affecting a property, from original conveyance to the present owner.
Q9. A mechanic's lien in Virginia is filed by:
Explanation
A mechanic's lien (materialman's lien) is a claim against real property by contractors, subcontractors, or material suppliers who have not been paid for work or materials provided to improve the property.
Q10. In Virginia, a judgment lien attaches to real property when:
Explanation
In Virginia, a judgment becomes a lien on real property in a jurisdiction when the judgment is docketed (recorded) in the general district or circuit court of that jurisdiction.
Q11. The Grantee's Tax in Virginia is:
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