Chapter 8: recording status

Question 1

Consideration Requirement

Answer 1

to be protected under recording state, the subsequent transferee must be a purchaser, not a Donee

Question 2

Purchaser

Answer 2

In order to be a purchaser for value, must have substantial consideration, they acquire the property by paying for it

Question 3

Donee

Answer 3

someone who receives the property as a gift

Question 4

Recording Statutes

Answer 4

Recording statutes protect only purchasers, not donee. The consideration paid by the purchaser must be substantial and not nominal consideration.

Question 5

Race stautes

Answer 5

Whomever records first prevails

Question 6

Notice stautes

Answer 6

TO prevail, cannot have notice, or knowledge of prior conveyance

Question 7

Race-notice stautes

Answer 7

MUST NOT have notice of the conveyance + must record before the other Records.

Question 8

Common law rule for recording statues

Answer 8

“first in time is first in right”

Question 9

constructive notice

Answer 9

implied in law notice, may be two ways, Inquiry + Record notice

Question 10

Record notice

Answer 10

notice from the public records

Question 11

Inquiry notice

Answer 11

Knowledge of the facts that would lead a reasonable person to inquire further

Question 12

Latent Defects

Answer 12

This is a hidden defect not apparent on the deed’s face (the four corners of the document)
In some jurisdictions a deed that has a latent defect gives record notice.161 In other jurisdictions, such a deed does not impart record notice.162