Escrow & Title
In Florida's 'race-notice' recording statute, a subsequent purchaser has priority if they:
ASimply record their deed first
BRecord their deed first AND had no notice of the prior unrecorded conveyance✓ Correct
CPurchase the property in good faith regardless of recording
DPay a higher price than the prior purchaser
Explanation
Florida follows a race-notice recording statute: to defeat a prior unrecorded interest, a subsequent purchaser must both record first AND have purchased without notice (actual, constructive, or inquiry) of the prior interest.
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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).
Closing CostsFees and expenses paid by the buyer and/or seller at the closing of a real estate transaction, in addition to the property's purchase price.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
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