medium · National Real Estate Exam
A property is sold, and the deed is delivered to the buyer. However, the buyer fails to record the deed. A few days later, the original seller dishonestly sells the same property to a second buyer who has no knowledge of the first sale and immediately records their deed.
In a 'Notice' jurisdiction, who likely owns the property?
- The first buyer, because recording is only for public notice and doesn't affect ownership.
- The first buyer, because they received their deed first and title passed upon delivery.
- The original seller, because both transactions are voided by the conflict.
- The second buyer, because they were a bona fide purchaser without notice of the prior claim.
Sign up free to see the explanation and track your rank →
More National Real Estate Exam practice
- A broker's employment contract with a seller is officially called the:
- What is the current status of the contract?
- A buyer defaults on a purchase agreement, and the seller chooses to keep the earnest money
- A buyer makes a written offer to a seller. Two days later, before the seller has responded
- A contract for the sale of a property is signed. Before closing, the property is destroyed
- A contract for the sale of real estate that has been signed by both parties is valid, but
- A contract that is valid and binding but allows one party to avoid the agreement because o
- A contract that is valid and enforceable until it is canceled by a party who was a victim