MUSIC: Wynton Marsalis, Classic Wynton (Recorded 1984-1998) - PowerPoint PPT Presentation

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MUSIC: Wynton Marsalis, Classic Wynton (Recorded 1984-1998)

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MUSIC: Wynton Marsalis, Classic Wynton (Recorded 1984-1998) ANNOUNCEMENTS ... Prior unrecorded interests regardless of ... Tattler Exclusive: Seller's ... – PowerPoint PPT presentation

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Title: MUSIC: Wynton Marsalis, Classic Wynton (Recorded 1984-1998)


1
MUSIC Wynton Marsalis, Classic Wynton (Recorded
1984-1998)
  • ANNOUNCEMENTS
  • PLEASE EAT CUPCAKES!!!
  • Wed Course Evaluations
  • Thu Make-Up Class Start Chapter 8

2
NOTICE THE RECORDING SYSTEMcontinued
3
3 Kinds of Recording Acts
  1. Race
  2. Notice
  3. Race-Notice

4
3 Kinds of Recording Acts
  • Race
  • 1st to Record Wins
  • N.C. La. Del. for all interests
  • Some others for some specific interests
  • Notice
  • Race-Notice

5
3 Kinds of Recording Acts
  • Race
  • Notice
  • Protects BFP for Value ag. Prior unrecorded
    interests regardless of when or if BFP records
  • About half the states (e.g. TX FL)
  • Race-Notice

6
3 Kinds of Recording Acts
  • Race
  • Notice
  • Race-Notice
  • Protects BFP for Value ag. prior unrecorded
    interests only if BFP records 1st
  • About half the states (e.g. NY CA)

7
DQ119 Situation 1
  • O?A
  • O?B (BFP)
  • B records O? B deed
  • A records O? A deed
  • WHO WINS IN ?
  • RACE
  • NOTICE
  • RACE-NOTICE

8
DQ119 Situation 1
  • O?A
  • O?B (BFP)
  • B records O? B deed
  • A records O? A deed
  • WHO WINS IN ?
  • RACE B
  • NOTICE B
  • RACE-NOTICE B

9
DQ119 Situation 2
  • O?A
  • A records
  • O?B
  • B records
  • WHO WINS IN ?
  • RACE
  • NOTICE
  • RACE-NOTICE

10
DQ119 Situation 2
  • O?A
  • A records
  • O?B
  • B records
  • WHO WINS IN ?
  • RACE A
  • NOTICE A
  • RACE-NOTICE A

11
Moral of Situations 1 2 If you record
immediately, you are always in the best position
possible.
12
DQ119 Situation 3
  • O?A
  • O?B (NOT BFP)
  • B records
  • A records
  • WHO WINS IN ?
  • RACE
  • NOTICE
  • RACE-NOTICE

13
DQ119 Situation 3RACE STATUTE PROTECTS BAD
FAITH PURCHASER WHO RECORDS FIRST
  • O?A
  • O?B (NOT BFP)
  • B records
  • A records
  • WHO WINS IN ?
  • RACE B
  • NOTICE A
  • RACE-NOTICE A

14
DQ119 Situation 4
  • O?A
  • O?B (BFP)
  • A records
  • B records
  • WHO WINS IN ?
  • RACE
  • NOTICE
  • RACE-NOTICE

15
DQ119 Situation 4NOTICE STATUTE PROTECTS BFP
EVEN IF DOESNT RECORD FIRST
  • O?A
  • O?B (BFP)
  • A records
  • B records
  • WHO WINS IN ?
  • RACE A
  • NOTICE B
  • RACE-NOTICE A

16
DQ119 Title Search with Grantor-Grantee Indexes
  • Purchasing from Ms. Carr. How do you begin?

17
DQ119 Title Search with Grantor-Grantee Indexes
  • Purchasing from Ms. Carr.
  • Check grantee index under Carr going backward
    from present. You find record of deed Bilenki
    ? Carr (1984). What now?

18
DQ119 Title Search with Grantor-Grantee Indexes
  • Purchasing from Ms. Carr.
  • Deed Bilenki ? Carr (1984).
  • Check grantee index under Bilenki going backward
    from 1984. You find record of deed Anderson ?
    Bilenki (1969). What now?

19
DQ119 Title Search with Grantor-Grantee Indexes
  • Purchasing from Ms. Carr.
  • Deed Bilenki ? Carr (1984).
  • Deed Anderson ? Bilenki (1969).
  • Check grantee index under Bilenki going backward
    from 1984. You find record of deed U.S. Govt ?
    Anderson (1962). What now?

20
DQ119 Title Search with Grantor-Grantee Indexes
  • From Grantee Index
  • Bilenki ? Carr (1984).
  • Anderson ? Bilenki (1969).
  • U.S.Govt ? Anderson (1962)
  • Check grantor index to see if Anderson conveyed
    any interests between 1962 and 1969. You find
    nothing until Anderson ? Bilenki deed in 1969.
  • What Next?

21
DQ119 Title Search with Grantor-Grantee Indexes
  • Anderson ? Bilenki (1969).
  • Check grantor index to see if Bilenki conveyed
    any interests between 1969 and 1984.
  • You find easement granted to Electric Co. in 1971
    nothing else until Bilenki ? Carr deed in 1984.
    What Next?
  • From Grantee Index
  • Bilenki ? Carr (1984).
  • Anderson ? Bilenki (1969).
  • U.S.Govt ? Anderson (1962)

22
DQ119 Title Search with Grantor-Grantee Indexes
  • Check grantor index to see if Carr conveyed any
    interests between 1984 and the present PLUS
  • Check to see if Electric Co. released or
    transferred the easement.
  • Nothing Additional. What Next?
  • From Grantee Index
  • Bilenki ? Carr (1984).
  • Anderson ? Bilenki (1969).
  • U.S.Govt ? Anderson (1962)
  • From Grantor Index
  • Anderson ? Bilenki (1969).
  • Bilenki ? Elec. Co. (1971) (Easement)
  • Bilenki ? Carr (1984).

23
DQ119 Title Search with Grantor-Grantee Indexes
  • Check all documents uncovered through index for
    content and references to unrecorded interests.
  • From Grantee Index
  • Bilenki ? Carr (1984).
  • Anderson ? Bilenki (1969).
  • U.S.Govt ? Anderson (1962)
  • From Grantor Index
  • Anderson ? Bilenki (1969).
  • Bilenki ? Elec. Co. (1971) (Easement)
  • Bilenki ? Carr (1984).

24
Tract Indexes
  • Index transactions by location not names of
    parties
  • Much easier to use for most types of transactions
  • Exist almost everywhere privately and as
    official public record in a few jurisdictions
  • Many states have rules based on grantor-grantee
    indexes even if public or private tract indexes
    exist

25
Shelter Rule (Notice Jurisd.)
  • In a notice jurisdiction, B wins over A as a
    subsequent BFP even though A recorded first
  • Note that for As recording to serve as notice to
    B, it must have taken place prior to the time B
    purchases the land.
  • O?A
  • O?B (BFP)
  • A records

26
Shelter Rule (Notice Jurisd.)
  • Who wins A v. C?
  • The O?A deed is recorded before Cs purchase so C
    is not a BFP.
  • O?A
  • O?B(BFP)
  • A records
  • B?C

27
Shelter Rule (Notice Jurisd.)
  • Who wins A v. C? C is not a BFP BUT
  • Shelter rule Subsequent purchaser from BFP
    stands in shoes of BFP and defeats prior interest
  • even if not BFP
  • unless original grantor
  • WHY?
  • O?A
  • O?B(BFP)
  • A records
  • B?C

28
Shelter Rule (Notice Jurisd.)
  • O?A
  • O?B (BFP)
  • A records
  • B?C
  • Protects title of a BFP from recording or adverse
    publicity that occurs subsequent to purchase.
    Otherwise, B couldnt sell, so victory over A
    worthless

29
Ortiz Sells Land to Both Albrecht and Bowen
Flees to Cayman Islands
  • Buyers Confused, Angry Who Will Get the Land
    and Who Will Have to Chase After Ortiz?
  • Tattler Exclusive
  • Sellers Friends Say Not Surprised.

30
Shelter Rule (Notice Jurisd.)
  • Ortiz ? Albrecht
  • Ortiz ? Bowen (BFP)
  • Massive Publicity on Slow News Day
  • Bowen ? Chamoff (Actual Notice Not BFP)
  • Chamoff wins over Albrecht to give value to
    Bowens interest

31
CHAIN OF TITLE PROBLEMS
  • Problems in way things are recorded or indexed
    that frustrate basic search. If significant
    enough
  • Can mean no record notice
  • Can mean not recorded for purpose of race-notice

32
CHAIN OF TITLE PROBLEMS EXAMPLES (FYI not
tested)
  • Documents recorded out of usual order
  • Document refers to several lots w/o listing
    individually (all land owned by X)
  • Same person referred to by different name on
    later document (misspelling or name change(s))

33
1948 Grant to Elizabeth Taylor
  • Where do you look in the grantor index going
    forward?

34
1948 Grant to Elizabeth Taylor
  • Where do you look in the grantor index?
  • 1950
  • Elizabeth Taylor Hilton

35
1948 Grant to Elizabeth Taylor
  • Where do you look in the grantor index?
  • 1952
  • Elizabeth Taylor Hilton Wilding

36
1948 Grant to Elizabeth Taylor
  • Where do you look in the grantor index?
  • 1957 Elizabeth Taylor Hilton Wilding Todd

37
1948 Grant to Elizabeth Taylor
  • Where do you look in the grantor index?
  • 1959 Elizabeth Taylor Hilton Wilding Todd Fisher

38
1948 Grant to Elizabeth Taylor
  • Where do you look in the grantor index?
  • 1964 Elizabeth Taylor Hilton Wilding Todd Fisher
    Burton

39
1948 Grant to Elizabeth Taylor
  • Where do you look in the grantor index?
  • 1975 Elizabeth Taylor Hilton Wilding Todd Fisher
    Burton Burton

40
1948 Grant to Elizabeth Taylor
  • Where do you look in the grantor index?
  • 1976 Elizabeth Taylor Hilton Wilding Todd Fisher
    Burton Burton Warner

41
1948 Grant to Elizabeth Taylor
  • Where do you look in the grantor index?
  • 1991 Elizabeth Taylor Hilton Wilding Todd Fisher
    Burton Burton Warner Fortensky
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