Exam (elaborations)
REE 3433 Chapter 8 (1).
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REE 3433 Chapter 8 (1).
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REE 3433 Chapter 8Title - ANS-The right to possess real estate as evidenced by a historical record
Recording - ANS-The act of placing in the public record documents that give the world
notice of the information therein
Constructive notice - ANS-Notice imputed to a person by law due to its existence in the
public records whether the person has actually inspected the public records or not
Actual notice - ANS-Title information that is acquired personally by someone
Inquiry notice - ANS-Notice of facts that create a duty to inquire further whether
unrecorded interests exist
Recording statuses - ANS-State statutes that govern the manner in which the
documents are recorded in the public record and the effect such recording has on
subsequent purchasers, creditors, mortgagees, and other parties who may have an
interest in the property.
Bona fide purchaser - ANS-1. Pays valuable consideration for the property
2. Buys in good faith
3. Has no notice of the earlier sale. As discussed earlier, notice may be actual or
constructive.
Notice statute - ANS-Under this statute, an unrecorded conveyance is not valid against
later bona fide purchasers.
Race-notice statute - ANS-Under this statute, a later purchaser not only must be bona
fide but also must record the deed before other purchasers.
Race statute - ANS-Under this the first to record wins. The purchaser need not be bona
fide or without notice.
Notice Statute - ANS-What statute does Florida use?
Chain of Title - ANS-A record of successive conveyances affecting a particular parcel of
land that are arranged consecutively from the government or original source of title
down to the present holder
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