A Virginia homeowner discovers that a neighbor's fence encroaches slightly onto her property. The neighbor agrees to execute a deed conveying any claim he might have to that strip of land back to the homeowner, without any warranty. What type of deed is the neighbor most likely executing?
Correct Answer
A) Quitclaim deed
A quitclaim deed is the standard instrument used in Virginia to resolve boundary disputes, remove clouds on title, or extinguish a potential claim to a strip of land. The neighbor is simply releasing any interest he might have in the disputed strip without warranting anything about the title, which is precisely what a quitclaim deed accomplishes.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Real property is immovable land and anything permanently attached to it, while personal property (also called chattels) is movable.
Tenancy by the entirety is a form of co-ownership available only to married couples that includes the right of survivorship and protection from individual creditors. Neither spouse can unilaterally sell or encumber the property.
Tenancy in common is a form of co-ownership in which two or more persons hold separate, undivided interests in property without the right of survivorship. Each owner can hold unequal shares and can independently transfer their interest.
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