Escrow & Title
When a North Dakota deed is delivered but not recorded, the transfer of title between grantor and grantee is:
AInvalid until recorded
BValid between the parties but not binding on subsequent bona fide purchasers who record first✓ Correct
CValid only if the consideration was paid in full
DInvalid under the Statute of Frauds
Explanation
An unrecorded deed is valid between the grantor and grantee. However, under North Dakota's race-notice recording act, a subsequent bona fide purchaser who takes without notice and records first may prevail over the prior unrecorded grantee.
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