A Colorado property is sold and the deed is signed but not yet recorded. Before recording, a second buyer who has no knowledge of the first sale purchases the same property and immediately records their deed. Under Colorado's race-notice statute, who prevails?
Why The second buyer who recorded first without knowledge of the first sale Is Correct
Answer B: The second buyer who recorded first without knowledge of the first sale
Exam Tip: Escrow & Title
Escrow questions test the neutral third-party role and the sequence of closing events. Remember that the escrow agent acts as a dual agent for both buyer and seller and cannot advocate for either side.
Key Escrow & Title Terms in This Question
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Key Terms to Know
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Transfer TaxA tax imposed by state or local governments when real property ownership is transferred, typically based on the sale price.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
EasementA non-possessory right to use another person's land for a specific purpose.
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