Property Ownership
The concept of 'constructive notice' from a recorded deed means:
AThe buyer has actually read and knows the deed terms
BThe law presumes all persons have notice of properly recorded instruments, whether or not they actually read them✓ Correct
CThe buyer received a copy of the deed by mail
DThe title company provided notice of the deed terms
Explanation
Constructive notice is a legal presumption that all persons with an interest in the property know the contents of properly recorded instruments, because they are part of the public record and anyone can search them.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Abstract of TitleA condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
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