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9 Cards in this Set

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  • Back
What is the purpose of recording acts?
Protect subseq purchasers interest in land from earlier claimants of whom they are unaware. Void deeds of earlier grantees in favor of later ones if no notice. Protect only bona fide purchasers and encumbrancers.
When is a recording act inapplicable?
A recording act w/n:
1. correct deed or delivery defects in conveyance.
2. protect those whose interests arose by AP or prescription or implication.
3. apply when the act is inapplicable for some other reason - deed isn't property acknowledged, subseq grantee h/ notice of prior, or subseq grantee takes by will or gift not for fair value.
What is a bona fide purchaser?
Subseq purchaser who pays value w/o notice of any prior conveyance and is of good faith.
What are the 3 major types of recording statutes?
Race - very rare - first instrument to be recorded has priority, regardless of notice, good faith, or any other considerations - d/n/h to be bfp (race to recorders office)
Notice - no subseq bfp is bound by an unrecorded prior conveyance - if property is conveyed to 2 different indiv, neither of whom records his conveyance, 2nd purchaser w/h tile from the moment the property is conveyed to him.
Race Notice - no subseq bfp is bound by a prior conveyance as long as he RECORDS first - priority is not established at time of conveyance, only when he records.
Is a deed recorded outside the chain of title recorded at all?
Not in most juris (notice & race-notice) b/c it gives no notice to subseq pruchasers. Every grantor m/ first appear as a grantee when he rec'd title, if he d/n, and the conveyance to him goes unrecorded, there w/b no notice to anyone searching that a conveyance h/ taken place.
What is the shelter rule?
Gives those who succeed to the interest of a bfp the protection of the recording acts, even if they themselves a/n bfp. If a person's predecessor in interest w/h prevailed, then hat person will too.
What type of recording act?
"No conveyance of real property s/b valid against subseq pruchasers and encumbrancers who give value and taken w/o notice, unless such conveyance is duly recorded b/f any subseq purchase."
Pure notice since no subseq bfp is bound by an unrecorded prior conveyance.
What type of recording act?
"No conveyance of real property that h/n/b duly recorded w/b valid against any subseq pruchaser who gives value and takes w/o notice, whose conveyance w/b duly recorded first."
Race-notice - subseq bfp is bound by a prior conveyance UNLESS he records first. Subseq bfp priority is not established until he records and then only if he records first.
What type of recording act?
"A conveyance of an estate in land is void as agianst any other purchaser of the same property whose conveyance is furst duly recorded."
Pure race - d/n require a bfp and all that counts is who records first.