The recording act in Alabama protects which subsequent purchasers against prior unrecorded interests?
Why Bona fide purchasers for value who had no actual or constructive notice of the prior interest Is Correct
Answer B: Bona fide purchasers for value who had no actual or constructive notice of the prior interest
Exam Tip: Property Ownership
Property ownership questions test the bundle of rights and different forms of ownership. Know the differences between joint tenancy, tenancy in common, and community property, including the right of survivorship.
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Key Terms to Know
In community property states, most property acquired during marriage is owned equally by both spouses, regardless of who paid for it.
Discount PointsPrepaid interest paid to a lender at closing to reduce the mortgage interest rate, with each point equal to 1% of the loan amount.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
Math Concepts
State-Specific Concepts
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