MUSIC: Wynton Marsalis, Classic Wynton (Recorded 1984-1998) ANNOUNCEMENTS PLEASE EAT CUPCAKES!!!...

MUSIC: Wynton Marsalis, Classic Wynton (Recorded 1984-1998)

ANNOUNCEMENTS

• PLEASE EAT CUPCAKES!!!• Wed: Course Evaluations

• Thu: Make-Up Class; Start Chapter 8

NOTICE & THE NOTICE & THE RECORDING RECORDING

SYSTEMSYSTEMcontinuedcontinued

3 Kinds of Recording Acts

1. Race

2. Notice

3. Race-Notice

3 Kinds of Recording Acts1. Race

– 1st to Record Wins– N.C. + La. + Del. for all interests– Some others for some specific interests

2. Notice

3. Race-Notice


2. Notice– Protects BFP for Value ag. Prior

unrecorded interests regardless of when or if BFP records

– About half the states (e.g. TX + FL)

3. Race-Notice


2. Notice

3. Race-Notice– Protects BFP for Value ag. prior unrecorded

interests only if BFP records 1st– About half the states (e.g. NY + CA)

DQ119: Situation 1

OA

OB (BFP)

B records [O B deed]

A records [O A deed]

WHO WINS IN …?• RACE:• NOTICE:• RACE-NOTICE:

DQ119: Situation 1

OA

OB (BFP)

B records [O B deed]

A records [O A deed]

WHO WINS IN …?• RACE: B• NOTICE: B• RACE-NOTICE: B

DQ119: Situation 2

OA

A records

OB

B records


DQ119: Situation 2

OA

A records

OB

B records

WHO WINS IN …?• RACE: A• NOTICE: A• RACE-NOTICE: A

Moral of Situations 1 & 2: If you record immediately, you are always in the best

position possible.

DQ119: Situation 3

OA

OB (NOT BFP)

B records

A records


DQ119: Situation 3:RACE STATUTE: PROTECTS BAD FAITH

PURCHASER WHO RECORDS FIRST

OA

OB (NOT BFP)

B records

A records

WHO WINS IN …?• RACE: B• NOTICE: A• RACE-NOTICE: A

DQ119: Situation 4

OA

OB (BFP)

A records

B records


DQ119: Situation 4:NOTICE STATUTE: PROTECTS BFP EVEN IF

DOESN’T RECORD FIRST

OA

OB (BFP)

A records

B records

WHO WINS IN …?• RACE: A• NOTICE: B• RACE-NOTICE: A

DQ119: Title Search with Grantor-Grantee Indexes

Purchasing from Ms. Carr. How do you begin?


Purchasing from Ms. Carr.

1. Check grantee index under Carr going backward from present. You find record of deed: Bilenki Carr (1984). What now?



1. Deed: Bilenki Carr (1984).

2. Check grantee index under Bilenki going backward from 1984. You find record of deed: Anderson Bilenki (1969). What now?



1. Deed: Bilenki Carr (1984).

2. Deed: Anderson Bilenki (1969).

3. Check grantee index under Bilenki going backward from 1984. You find record of deed: U.S. Govt Anderson (1962). What now?


From Grantee Index:

Bilenki Carr (1984).

Anderson Bilenki (1969).

U.S.Govt Anderson (1962)

Check grantor index to see if Anderson conveyed any interests between 1962 and 1969. You find nothing until Anderson Bilenki deed in 1969.

What Next?


From Grantee Index:





Check grantor index to see if Bilenki conveyed any interests between 1969 and 1984.

You find easement granted to Electric Co. in 1971 & nothing else until Bilenki Carr deed in 1984. What Next?


From Grantee Index:




From Grantor Index


Bilenki Elec. Co. (1971) (Easement)


Check grantor index to see if Carr conveyed any interests between 1984 and the present PLUS

Check to see if Electric Co. released or transferred the easement.

Nothing Additional. What Next?


From Grantee Index:




From Grantor Index


Bilenki Elec. Co. (1971) (Easement)


Check all documents uncovered through index for content and references to unrecorded interests.

Tract Indexes• Index transactions by location not names of parties• Much easier to use for most types of transactions• Exist almost everywhere privately; and as official

public record in a few jurisdictions• Many states have rules based on grantor-grantee

indexes even if public or private tract indexes exist

Shelter Rule (Notice Jurisd.)

OA

OB (BFP)

A records

• In a notice jurisdiction, B wins over A as a subsequent BFP even though A recorded first

• Note that for A’s recording to serve as notice to B, it must have taken place prior to the time B purchases the land.

Shelter Rule (Notice Jurisd.)OA

OB(BFP)

A records

BC

Who wins A v. C?• The OA deed is recorded before

C’s purchase so C is not a BFP.


OA

OB(BFP)

A records

BC

Who wins A v. C? C is not a BFP BUT:

Shelter rule: Subsequent purchaser from BFP stands in shoes of BFP and defeats prior interest– even if not BFP – unless original grantor

WHY?


OA

OB (BFP)

A records

BC

• Protects title of a BFP from recording or adverse publicity that occurs subsequent to purchase. Otherwise, B couldn’t sell, so victory over A worthless

Ortiz Sells Land to Both Albrecht and Bowen; Flees to Cayman

Islands

Tattler Exclusive:Seller’s Friends Say

Not Surprised.

Buyers Confused, Angry: Who Will Get the Land and Who Will Have to Chase After Ortiz?

Shelter Rule (Notice Jurisd.)Ortiz Albrecht

Ortiz Bowen (BFP)

Massive Publicity on Slow News DayMassive Publicity on Slow News Day

Bowen Chamoff (Actual Notice; Not BFP)

Chamoff wins over Albrecht to give value to Bowen’s interest

CHAIN OF TITLE PROBLEMSProblems in way things are recorded or

indexed that frustrate basic search. If significant enough: – Can mean no record notice– Can mean not “recorded” for purpose of

race-notice

CHAIN OF TITLE PROBLEMS: EXAMPLES (FYI; not tested)

• Documents recorded out of usual order• Document refers to several lots w/o listing

individually (all land owned by X)• Same person referred to by different name on later

document (misspelling or name change(s))

1948 Grant to Elizabeth Taylor

Where do you look in the grantor index going forward?


Where do you look in the grantor index?

1950Elizabeth Taylor Hilton



1952Elizabeth Taylor Hilton Wilding



1957: Elizabeth Taylor Hilton Wilding Todd



1959 Elizabeth Taylor Hilton Wilding Todd Fisher

1948 Grant to Elizabeth TaylorWhere do you look in the grantor index?

1964 Elizabeth Taylor Hilton Wilding Todd Fisher Burton




Burton




Burton Warner

1948 Grant to Elizabeth TaylorWhere do you look in the grantor index?

1991 Elizabeth Taylor Hilton Wilding Todd Fisher Burton Burton Warner Fortensky

MUSIC: Wynton Marsalis, Classic Wynton (Recorded 1984-1998) ANNOUNCEMENTS PLEASE EAT CUPCAKES!!!...

Documents

Transcript of MUSIC: Wynton Marsalis, Classic Wynton (Recorded 1984-1998) ANNOUNCEMENTS PLEASE EAT CUPCAKES!!!...