Lesson 9: Sale of Land and Recording Problems

Question 1

Marketable Title

Answer 1

A title free from reasonable doubt as to matters of law and fact, which a reasonable purchaser, well-informed of the facts and their legal bearings, would be willing to accept and ought to accept.

Question 2

Pure Race Statute

Answer 2

The first to record is protected whether or not he has actual notice of an earlier conveyance.

Question 3

Pure Notice Statute

Answer 3

A pure notice statute provides that an unrecorded instrument is not binding as against a subsequent bona fide (good faith purchaser without notice) purchaser, whether or not the subsequent purchaser records prior to the first purchaser. If the prior conveyance is unrecorded, the subsequent purchaser gains title from the moment the property is conveyed to him.

Question 4

Race-Notice Statute

Answer 4

A race-notice statute protects the subsequent purchaser only if he records before the earlier purchaser records and he purchases without notice of the earlier conveyance.

Question 5

Inquiry Notice

Answer 5

Possession of facts which would lead a reasonable person in the same or similar position to make an investigation which would result in actual knowledge of the existence of a prior unrecorded deed.