Escrow & Title
Oklahoma's 'race-notice' recording statute means that a subsequent bona fide purchaser who records first will prevail over a prior purchaser who:
AHas a verbal agreement with the seller
BDid not record their deed and the subsequent purchaser had no actual knowledge of the prior transfer at the time of purchase✓ Correct
CPaid a higher price for the property
DRecorded their deed in a different county
Explanation
Under Oklahoma's race-notice recording statute, a subsequent purchaser prevails if they (1) had no actual notice of the prior conveyance at the time of purchase, and (2) recorded their deed before the prior purchaser. Both conditions must be met.
People Also Study
Related Oklahoma Questions
- Oklahoma's 'race-notice' recording statute means that a subsequent purchaser is protected if they:Property Ownership
- Oklahoma's 'race' recording statute has been clarified to be a 'race-notice' statute. This means the first person to record prevails ONLY IF they:Escrow & Title
- Oklahoma's 'race-notice' recording system means that to be fully protected as a bona fide purchaser, one must:Escrow & Title
- An Oklahoma commercial tenant's lease includes a 'right of first refusal' (ROFR) for the purchase of the property. When the landlord gets a bona fide purchase offer, they must:Contracts
- When an Oklahoma lender conducts a title search and finds a prior recorded deed of trust that was never released, the lender should:Finance
- In Oklahoma, a condominium's declaration of covenants, conditions, and restrictions (CC&Rs) is recorded in the county clerk's office. This means:Escrow & Title
- In Oklahoma, the recording of a deed in the county where the property is located:Escrow & Title
- An 'as-is' clause in an Oklahoma purchase contract means:Contracts
Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
Abstract of TitleA condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
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.
Study This Topic
Practice More Oklahoma Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Oklahoma Quiz →