Recording Statutes & BFPs Flashcards
1
Q
Notice Statute
A
Last subsequent BFP prevails
2
Q
Race Statute
A
First to record prevails
3
Q
Race Notice Statute
A
1st Subsequent BFP to record prevails
4
Q
Bona Fide Purchaser
A
Person who takes real property without notice and pays valuable consideration
5
Q
Shelter Rule
A
Person who purchases from a BFP receives same status/rights as BFP
6
Q
Actual notice
A
BFP has personal knowledge of a prior conveyance
7
Q
Inquiry Notice
A
BFP can learn about prior conveyances by inspecting land
8
Q
Constructive Notice
A
BFP can learn of prior conveyance by searching public records
