Recording System Flashcards
Bona Fide Purchaser for Value
Buyers property for value (substantial pecuniary consideration) without notice
Race Notice
Any conveyance of an interest in land, without notice therefore WHOSE CONVEYANCE IS FIRST RECORDED.
MUST RECORD FIRST TO WIN
Notice Statute
Conveyance of interest, subsequent purchaser for value, without notice, unless the conveyance is recorded.
Shelter Rule
A transferee “takes shelter” in the statute of her transferor, and thereby steps into the shoes of the BFP even though she otherwise fails to meet the requirement of BFP
Wild Deed
If a deed, entered on the records has a grantor unconnected to the chain of title, the deed is a wild deed.
It is incapable of giving record notice of its existence
O to A, A doesn’t record, A to B, B records
Estoppel By Deed
One who conveys property which he has no interest, is estopped from denying the validity of that conveyance IF HE LATER ACQUIRES that previously transferred property.
Person who acquired property from someone who did not have interest in that property, will only have interest in that property until a BFP