Recording Statutes

Question 1

3 types of recording statutes

Answer 1

1. race statute- the first to record wins
2. notice statute- a bona fide purchaser without notice wins
3. race-notice statute- a bona fide purchaser who records first wins

Question 2

A bona fide purchaser requires three elemnts

Answer 2

1 –claimant took subsequent in time to another person claiming ownership of the real property in question

2 –the claimant was a bona fide purchaser for value

3 –the claimant took the property without actual constructive or inquiry notice

Question 3

What are wild deeds?

Answer 3

Wild deeds are deeds recorded outside of the chain of title, and which do not impart constructive notice on a subsequent purchaser

Question 4

What are the two types of title searches?

Answer 4

1 –tract index

2 –grantor and grantee index

Question 5

What is the shelter rule?

Answer 5

Under the shelter rule, a person who is a successor in interest to a person protected by the recording statutes is also protected

*** no tricky shit is allowed