Under North Carolina's 'race-notice' recording statute, a subsequent buyer is protected against a prior unrecorded conveyance if the subsequent buyer:
Why Pays valuable consideration and records first without notice of the prior conveyance Is Correct
Answer B: Pays valuable consideration and records first without notice of the prior conveyance
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.
Key Property Ownership Terms in This Question
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- Under NC's recording act, a bona fide purchaser for value (BFP) who takes without notice of a prior unrecorded claim and records first will:Escrow & Title
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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).
Community PropertyIn community property states, most property acquired during marriage is owned equally by both spouses, regardless of who paid for it.
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
Math Concepts
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