A conveys Whiteacre to B on May 1. B does not record his deed and does not
Question:
A conveys Whiteacre to B on May 1. B does not record his deed and does not take possession of Whiteacre. On May 5, A sells Whiteacre to C, delivering a deed to Whiteacre in exchange for C's payment of the purchase price. When C pays the purchase price, C has no notice of A's prior conveyance to B. On May 6, B records his deed. On May 7, C records his deed.
(a) Who owns Whiteacre under a (1) race statute, (2) a notice statute or (3) a race-notice statute?
(b) Suppose neither B nor C has recorded the deed, and it is now May 31.
Who owns Whiteacre under EACH of the three types of statutes. Please provide a detailed explanation for your answer. What difficulties did you experience? Can you suggest a way to make this exercise more effective to learn about recordation?
Accounting Information Systems basic concepts and current issues
ISBN: 978-0078025334
3rd edition
Authors: Robert Hurt