Recording system Flashcards
in race jx
first to record wins
in notice jx
last BFP/mortgage to take for value (iow record) wins
in race-notice jx
BFP and 1st to record wins
(so need to show that you are a BFP)
list (3)
to be a BFP, grantee must
- be a purchaser - so gift, will, inheritance DOES NOT COUNT!
- pay valuable consideration
- take without notice of prior conveyance - actual, inquiry or record notice … inquiry + record type of constructive notice
what is actual notice
prior to B closing, B learns of A, B no longer a BFP
what is inquiry notice
buyer has duty to inspect premise and see if there is a recording
what is record notice
B takes while A’s deed was properly record with chain of title
so A’s deed was recorded and B should have looked at records to know
purchaser must be without notice at the time of
conveyance
shelter rule
anyone who takes from a BFP will win against any interests that BFP has!
aka transferee, steps into shoes or shelter of the BFP
- Notice statute - Owen sells to A. A does not record. O then sells to B, who records and does not know about A. B sells to C. C knows about A, C records. btwn A and C who wins.*
- C wins. A’s interest will be inferior to C’s interest because C is protected under shelter rule*
what is a wild deed
deed that is not connected to the chain of title
O sells to A who does not record. Then A sells to B. B records. Then O sells to C. C records Who wins btwn B and C? C wins
rule of wild deed
if recording is like this: “O sells to A who does not record. Then A sells to B. B records”
B is then incapable of giving record notice of deed’s existence (because A didnt record to put the deed in the chain of title)
so if
O sells to C and C records, C wins because the O → A doesnt count because A didnt record and C is also last BFP
estoppel by deed
O owns BA. O thinks of selling to X but doesnt. X sells to A. A records. O sells to X. X records. X sells to B. B records.
see pg 101 and 102
“Any conveyance of estate in land, other than a lease for less than one year, shall not be valid against subsequent purchaser for value, without notice, unless conveyance is recorded”
what type of statute?
how do you know?
pure notice statute
“shall not be valid…without notice”
no conveyance or mortgage of real property shall be valid against a subsequent purchaser for value and without notice whose conveyance is first recorded
what type of statute?
how do you know?
race-notice
“without notice whose conveyance is first recorded”
“Any conveyance of an interest in land, other than a lease for less than one year, shall not be valid against any subsequent purchaser whose conveyance is first recorded
what type of statute?
how do you know?
race
“is first recorded”
