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

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

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

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  1. MUSIC: Wynton Marsalis, Classic Wynton (Recorded 1984-1998) ANNOUNCEMENTS • PLEASE EAT CUPCAKES!!! • Wed: Course Evaluations • Thu: Make-Up Class; Start Chapter 8

  2. NOTICE & THE RECORDING SYSTEMcontinued

  3. 3 Kinds of Recording Acts • Race • Notice • Race-Notice

  4. 3 Kinds of Recording Acts • Race • 1st to Record Wins • N.C. + La. + Del. for all interests • Some others for some specific interests • Notice • Race-Notice

  5. 3 Kinds of Recording Acts • Race • Notice • Protects BFP for Value ag. Prior unrecorded interests regardless of when or if BFP records • About half the states (e.g. TX + FL) • Race-Notice

  6. 3 Kinds of Recording Acts • Race • Notice • Race-Notice • Protects BFP for Value ag. prior unrecorded interests only if BFP records 1st • About half the states (e.g. NY + CA)

  7. DQ119: Situation 1 OA OB (BFP) B records [O B deed] A records [O A deed] WHO WINS IN …? • RACE: • NOTICE: • RACE-NOTICE:

  8. DQ119: Situation 1 OA OB (BFP) B records [O B deed] A records [O A deed] WHO WINS IN …? • RACE: B • NOTICE: B • RACE-NOTICE: B

  9. DQ119: Situation 2 OA A records OB B records WHO WINS IN …? • RACE: • NOTICE: • RACE-NOTICE:

  10. DQ119: Situation 2 OA A records OB B records WHO WINS IN …? • RACE: A • NOTICE: A • RACE-NOTICE: A

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

  12. DQ119: Situation 3 OA OB (NOT BFP) B records A records WHO WINS IN …? • RACE: • NOTICE: • RACE-NOTICE:

  13. DQ119: Situation 3:RACE STATUTE: PROTECTS BAD FAITH PURCHASER WHO RECORDS FIRST OA OB (NOT BFP) B records A records WHO WINS IN …? • RACE: B • NOTICE: A • RACE-NOTICE: A

  14. DQ119: Situation 4 OA OB (BFP) A records B records WHO WINS IN …? • RACE: • NOTICE: • RACE-NOTICE:

  15. DQ119: Situation 4:NOTICE STATUTE: PROTECTS BFP EVEN IF DOESN’T RECORD FIRST OA OB (BFP) A records B records WHO WINS IN …? • RACE: A • NOTICE: B • RACE-NOTICE: A

  16. DQ119: Title Search with Grantor-Grantee Indexes Purchasing from Ms. Carr. How do you begin?

  17. DQ119: Title Search with Grantor-Grantee Indexes Purchasing from Ms. Carr. • Check grantee index under Carr going backward from present.You find record of deed: Bilenki  Carr (1984). What now?

  18. DQ119: Title Search with Grantor-Grantee Indexes Purchasing from Ms. Carr. • Deed: Bilenki  Carr (1984). • Check grantee index under Bilenki going backward from 1984.You find record of deed: Anderson  Bilenki (1969). What now?

  19. DQ119: Title Search with Grantor-Grantee Indexes Purchasing from Ms. Carr. • Deed: Bilenki  Carr (1984). • Deed: Anderson  Bilenki (1969). • Check grantee index under Bilenki going backward from 1984.You find record of deed: U.S. Govt  Anderson (1962).What now?

  20. 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? DQ119: Title Search with Grantor-Grantee Indexes

  21. From Grantee Index: Bilenki  Carr (1984). Anderson  Bilenki (1969). U.S.Govt  Anderson (1962) Anderson  Bilenki (1969). 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? DQ119: Title Search with Grantor-Grantee Indexes

  22. From Grantee Index: Bilenki  Carr (1984). Anderson  Bilenki (1969). U.S.Govt  Anderson (1962) From Grantor Index Anderson  Bilenki (1969). Bilenki  Elec. Co. (1971) (Easement) Bilenki  Carr (1984). 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? DQ119: Title Search with Grantor-Grantee Indexes

  23. From Grantee Index: Bilenki  Carr (1984). Anderson  Bilenki (1969). U.S.Govt  Anderson (1962) From Grantor Index Anderson  Bilenki (1969). Bilenki  Elec. Co. (1971) (Easement) Bilenki  Carr (1984). Check all documents uncovered through index for content and references to unrecorded interests. DQ119: Title Search with Grantor-Grantee Indexes

  24. 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

  25. Shelter Rule (Notice Jurisd.) OA OB (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.

  26. Shelter Rule (Notice Jurisd.) OA OB(BFP) A records BC Who wins A v. C? • The OA deed is recorded before C’s purchase so C is not a BFP.

  27. Shelter Rule (Notice Jurisd.) OA OB(BFP) A records BC 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?

  28. Shelter Rule (Notice Jurisd.) OA OB (BFP) A records BC 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

  29. Tattler Exclusive: Seller’s Friends Say Not Surprised. Buyers Confused, Angry: WhoWill Get the Land and Who Will Have to Chase After Ortiz? Ortiz Sells Land to Both Albrecht and Bowen; Flees to Cayman Islands

  30. Shelter Rule (Notice Jurisd.) Ortiz  Albrecht Ortiz  Bowen (BFP) Massive Publicity on Slow News Day Bowen  Chamoff (Actual Notice; Not BFP) Chamoff wins over Albrecht to give value to Bowen’s interest

  31. CHAIN OF TITLE PROBLEMS Problems 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

  32. 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))

  33. 1948 Grant to Elizabeth Taylor Where do you look in the grantor index going forward?

  34. 1948 Grant to Elizabeth Taylor Where do you look in the grantor index? 1950 Elizabeth Taylor Hilton

  35. 1948 Grant to Elizabeth Taylor Where do you look in the grantor index? 1952 Elizabeth Taylor Hilton Wilding

  36. 1948 Grant to Elizabeth Taylor Where do you look in the grantor index? 1957: Elizabeth Taylor Hilton Wilding Todd

  37. 1948 Grant to Elizabeth Taylor Where do you look in the grantor index? 1959 Elizabeth Taylor Hilton Wilding Todd Fisher

  38. 1948 Grant to Elizabeth Taylor Where do you look in the grantor index? 1964 Elizabeth Taylor Hilton Wilding Todd Fisher Burton

  39. 1948 Grant to Elizabeth Taylor Where do you look in the grantor index? 1975 Elizabeth Taylor Hilton Wilding Todd Fisher Burton Burton

  40. 1948 Grant to Elizabeth Taylor Where do you look in the grantor index? 1976 Elizabeth Taylor Hilton Wilding Todd Fisher Burton Burton Warner

  41. 1948 Grant to Elizabeth Taylor Where do you look in the grantor index? 1991 Elizabeth Taylor Hilton Wilding Todd Fisher Burton Burton Warner Fortensky