PSI Virginia Real Estate Practice Exam

How can title problems typically be resolved?

1. By filing litigation

2. By conducting a property appraisal

3. By filing documents like a quit claim deed

4. By waiting for statutory periods

The correct answer is: By filing documents like a quit claim deed

Resolving title problems often involves filing documents like a quit claim deed. A quit claim deed is a legal instrument that allows a person to transfer their interests in a property to another person without making any guarantees about the title. This method can effectively address issues such as unclear ownership or when there might be disputes over the title. It essentially helps clarify who has legitimate rights to the property, thus helping to resolve issues related to ownership or claims against the title. Other methods to address title problems, while valid in specific contexts, may not be as straightforward or effective in directly resolving title disputes. For instance, litigation may be a lengthy and expensive process, involving court intervention, while property appraisals focus on the market value rather than legal ownership issues. Waiting for statutory periods could involve certain legal principles, like adverse possession, but is not a proactive solution for title issues. Utilizing a quit claim deed, however, immediately addresses ownership questions and helps clear up title discrepancies more directly.