Recording System Flashcards

1
Q

Bona Fide Purchaser for Value

A

Buyers property for value (substantial pecuniary consideration) without notice

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2
Q

Race Notice

A

Any conveyance of an interest in land, without notice therefore WHOSE CONVEYANCE IS FIRST RECORDED.

MUST RECORD FIRST TO WIN

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3
Q

Notice Statute

A

Conveyance of interest, subsequent purchaser for value, without notice, unless the conveyance is recorded.

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4
Q

Shelter Rule

A

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

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5
Q

Wild Deed

A

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

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6
Q

Estoppel By Deed

A

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

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