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Real Property Ownership and Recordation Quiz
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Real Property Ownership and Recordation Quiz

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Questions and Answers

What is the purpose of recording conveyances of real property?

  • To ensure tax compliance for the property
  • To establish the market value of the property
  • To determine the size of the property
  • To create a public record of ownership and priority in case of conflicts (correct)
  • Which type of purchaser always prevails in a 'Race' jurisdictional variance?

  • The subsequent purchaser with notice
  • The first purchaser for value that records (correct)
  • The first in time, first in right purchaser
  • The subsequent bona fide purchaser
  • What is the characteristic of a bona fide purchaser?

  • Takes a conveyance of real estate without any consciousness of prior conveyance
  • Takes a conveyance of real estate in good faith, paying value for it without notice of conflicting claim (correct)
  • Takes a conveyance of real estate with notice of conflicting claim
  • Takes a conveyance of real estate without paying value for it
  • What type of notice involves subjective consciousness of prior conveyance?

    <p>Actual notice</p> Signup and view all the answers

    Which documents are recorded in the mechanics of property conveyances?

    <p>Mortgages, liens, easements, subdivisions</p> Signup and view all the answers

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