In Illinois, a deed must be recorded to provide constructive notice. If an unrecorded deed exists and the property is subsequently sold to a bona fide purchaser for value, who has priority under Illinois recording law?

Explanation

Illinois follows a 'race-notice' recording statute. A subsequent purchaser who pays value, has no notice of the prior unrecorded deed, and records their deed first will prevail over the first grantee who failed to record. This incentivizes timely recording to protect title.