WebRecording” or “Race-Notice Recording” statutes/laws is intended to describe the manner of achieving priority in the chain of title. Generally, the person winning the race gains priority. The county recorder in the county within which the property is located must record instruments affecting real WebA notice statute is a recording act that alters the common law rule of "first in time, first in right" to protect a subsequent bona fide purchaser ("BFP")—i.e., one who gives valuable consideration and lacks notice of the prior conveyance. A notice statute requires only that the subsequent purchaser have no actual or constructive (i.e ...
Race-notice Definition & Meaning Merriam-Webster Legal
WebVirginia Recorder Information. Real estate deeds that transfer property in Virginia must be recorded to provide constructive notice of the transfer. The recording act in Virginia is considered to be a race-notice act. Under this statute, a later buyer who pays fair value, does not have notice of any earlier conflicting interests, and records ... WebNotice recording statutes afford a means of giving constructive notice of ownership respecting estates or interests. For a bonafide purchaser for value and without notice, an unrecorded transfer is invalid. When there is notice recording statutes, a subsequent bonafide purchaser prevails over the prior interest. ... churchfields garage nottingham
Recording Statute Practical Law - Westlaw
WebApr 8, 2015 · A recording act is a state law that determines which party prevails when the same property is transferred to multiple people. There are three types of Recording Acts: 1. Pure Race, 2. Pure Notice, and 3. Race-Notice. In a Pure Race jurisdiction, recordation of the deed is the only relevant factor. WebMay 31, 2024 · What is a race notice recording statute? A recording act that gives priority of title to the party that records first, but only if the party also lacked notice of prior unrecorded claims on the same property. See Notice statute and Race statute. property & real estate law. Does a mortgage have to be recorded to be valid? WebRecording of PUD plan provisions under the recording act is not required because the notice goals of the recording act are satisfied by the PUD approval process. A PUD plan is not an instrument affecting title to real property within the purview of the recording statutes. South Creek Assocs. v. Bixby, 781 P.2d 1027 (Colo. 1989). church fields hartley