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A state has the following recording statute in effect:"No conveyance is good against a subsequent purchaser for a valuable consideration and without notice, unless the same be recorded prior to subsequent purchase. "An owner is the fee simple the owner of a 20-acre tract of unimproved land, situated in the state. On May 1, the owner sold the tract to a buyer for the purchase price of 75,000, conveyed the tract to an investor by warranty deed. This transaction took place on August 1. When the investor acquired title to the tract, he had no actual knowledge of the buyer's deed (which was still unrecorded). On August 10, the buyer recorded his deed to the tract. The investor did not record the deed he received from the owner until August 15. In an appropriate action to quiet title to the tract, in which all interested parties have been joined, title will be found to be in
Plain-text mathematical notation (without MathML)
A state has the following recording statute in effect:"No conveyance is good against a subsequent purchaser for a valuable consideration and without notice, unless the same be recorded prior to subsequent purchase. "An owner is the fee simple the owner of a 20-acre tract of unimproved land, situated in the state. On May 1, the owner sold the tract to a buyer for the purchase price of 40,000underaquitclaimdeed.Theownerdeliveredthedeedtothebuyerwhodidnotrecordthedeed.Afterthesaletothebuyer,theownerfoundhimselfindesperateneedofmoneybecausehelosthisjob.Sotheowner,inconsiderationofthesumof75,000, conveyed the tract to an investor by warranty deed. This transaction took place on August 1. When the investor acquired title to the tract, he had no actual knowledge of the buyer's deed (which was still unrecorded). On August 10, the buyer recorded his deed to the tract. The investor did not record the deed he received from the owner until August 15. In an appropriate action to quiet title to the tract, in which all interested parties have been joined, title will be found to be in
Original LaTeX notation
A state has the following recording statute in effect:"No conveyance is good against a subsequent purchaser for a valuable consideration and without notice, unless the same be recorded prior to subsequent purchase. "An owner is the fee simple the owner of a 20-acre tract of unimproved land, situated in the state. On May 1, the owner sold the tract to a buyer for the purchase price of $40,000 under a quitclaim deed. The owner delivered the deed to the buyer who did not record the deed. After the sale to the buyer, the owner found himself in desperate need of money because he lost his job. So the owner, in consideration of the sum of $75,000, conveyed the tract to an investor by warranty deed. This transaction took place on August 1. When the investor acquired title to the tract, he had no actual knowledge of the buyer's deed (which was still unrecorded). On August 10, the buyer recorded his deed to the tract. The investor did not record the deed he received from the owner until August 15. In an appropriate action to quiet title to the tract, in which all interested parties have been joined, title will be found to be in
choices
- the buyer, because his deed preceded the investor's deed.
- the buyer, because his deed was recorded prior to the investor's deed.
- the investor, because he is protected by the recording statute.
- the investor, because he took title by warranty deed and the buyer took title by quitclaim deed.
subject
professional_law
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