MEE Property Flashcards
1
Q
Notice Statute
A
Under a notice statute a subsequent purchaser takes the property free of prior interests
2
Q
Bona fide purchaser
A
Must pay valuable consideration, and show they did not have actual notice of any prior conveyance, did not have record notice from a properly recorded deed, and did not have inquiry notice in which a reasonable inspection of the premises would provide notice
3
Q
Shelter Rule
A
A person who takes from a BFP will prevail against any interest that the transferor-BFP would have prevailed against. This is true even if the transferee has actual knowledge of the prior unrecorded interest.
