Real Property

Question 1

What is actual notice?

Answer 1

Literal knowledge of A’s existence.

Question 2

What is required to be a bona fide purchaser?

Answer 2

1. Buys Blackacre for value.

2. Without notice someone else got there first.

Question 3

What is inquiry notice?

Answer 3

Whether he examines Blackacre or not prior to closing, on notice for what can be examined of the land and what it would show.

Question 4

What is Record Notice?

Answer 4

B is on record notice of A’s deed if at the time B takes A’s deed was properly recorded within the chain of title.

Question 5

What’s necessary in a Race-Notice State?

Answer 5

1. Must be a bona fide purchaser

2. Must win the race to record.

Question 6

What does a Notice Statute state mean?

Answer 6

If, at the time B takes, he is a bona fide purchaser, he wins. It won’t matter that A may ultimately record first, before B does. It won’t matter in the A v. B contest, that B never records.

Question 7

O conveys to A who doesn’t record. Later, O conveys the same parcel to B, a BFP, who records. B then conveys to C, who is a mere donee or who has actual knowledge of the O to A transfer. In the contest of A v. C who prevails?

Answer 7

C wins. In Botha notice and race notice state, nbc ofShelter Rule C steps into B’s shoes.

Question 8

What is a wild deed mean?

Answer 8

It’s a nullity. It’s like not even recording one.