Recording Statutes
When dealing with real property, most American jurisdictions have codified recording statutes that will enable subsequent purchasers to divest title from the party with common law title if they qualify for protection under the recording statute. Three varieties of recording statutes exist: 1) Race statutes, 2) Notice statutes, and 3) Race-Notice statutes.
A race statute will divest common law title from a person with superior title if the subsequent purchaser recorded their deed prior to the person with superior title. A notice statute will divest common law title from a person with superior title if the subsequent purchaser had no notice (either actual or constructive - otherwise known as bona fide) of the true owner's title. A race-notice statute requires a subsequent purchaser to be bona fide and record first.
Read more about this topic: Nemo Dat Quod Non Habet
Famous quotes containing the word recording:
“Self-expression is not enough; experiment is not enough; the recording of special moments or cases is not enough. All of the arts have broken faith or lost connection with their origin and function. They have ceased to be concerned with the legitimate and permanent material of art.”
—Jane Heap (c. 1880–1964)