Some states have real estate "notice" statutes for recording property ownership. These notice statutes invalidate a buyer's property ownership if she has notice that another owner has purchased the property from the same seller prior to her purchase. However, if the buyer does not have notice of the prior conveyance, then he is the owner because he is deemed to be a bona fide purchaser.
Courts qualify notice as one of three types:
In states that have recording acts that do not require notice, a buyer that purchases the property can still be the true owner despite knowing about another buyer. This is because a race statute in a recording act grants ownership to the first person that records their conveyance, regardless of who first bought the property.
Because the laws of each state differ greatly when it comes to real estate, an experienced real estate lawyer in your area can be of great value to you. The notice statute and the Recording Acts are difficult to understand, and a lawyer can make sure that you comply with the laws to ensure that your property interest is "bona fide" and made secure against all others.
Last Modified: 01-29-2014 04:40 PM PSTLaw Library Disclaimer
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