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Question 1
Voldemort sells Hogacre to Harry on October 1, 2003. He sells the same property to Ron on November 1, 2003. Under the common law rule (before the recording system), who owns Hogacre?
Correct The common law rule was the first in time rule, which states that if property is conveyed twice, the first transferee prevails over the second transferee.
Incorrect! The common law rule was the first in time rule, which states that if property is conveyed twice, the first transferee prevails over the second transferee.
Correct
Incorrect!
Correct
Incorrect!
Question 2
Voldemort sells Hogacre to Harry on October 1, 2003. He sells the same property to Ron on November 1, 2003. Ron did not know of the previous sale to Harry. Harry records his deed on December 1, 2003. Ron records his deed on December 15, 2003. Who owns Hogacre?
Correct
Incorrect!
Correct
Incorrect!
Correct This question depends on whether these parties are in a notice or race-notice jurisdiction. In a notice jurisdiction, Ron would win because he had no notice of the previous sale because Harry's deed was not recorded until after Ron's transaction. However, in a race-notice jurisdiction, Ron would lose because Harry's deed was recorded before Ron's deed was recorded.
Incorrect! This question depends on whether these parties are in a notice or race-notice jurisdiction. In a notice jurisdiction, Ron would win because he had no notice of the previous sale because Harry's deed was not recorded until after Ron's transaction. However, in a race-notice jurisdiction, Ron would lose because Harry's deed was recorded before Ron's deed was recorded.
Question 3
Voldemort sells Hogacre to Harry on October 1, 2003. He sells the same property to Ron on November 1, 2003. Ron did not know of the previous sale to Harry. Ron records his deed on December 1, 2003. Harry records his deed on December 15, 2003. Who owns Hogacre?
Correct
Incorrect!
Correct In both types of jurisdictions, Ron would win. In a notice jurisdiction, he would win because he was a subsequent bona-fide purchaser who received the land before Harry's deed was recorded. In a race-notice jurisdiction, Ron would win because he was a subsequent bona-fide purchaser whose deed was recorded first.
Incorrect! In both types of jurisdictions, Ron would win. In a notice jurisdiction, he would win because he was a subsequent bona-fide purchaser who received the land before Harry's deed was recorded. In a race-notice jurisdiction, Ron would win because he was a subsequent bona-fide purchaser whose deed was recorded first.
Correct
Incorrect!
Question 4
Voldemort sells Hogacre to Harry on October 1, 2003. Harry records his deed on October 15, 2003. Voldemort sells the same property to Ron on November 1, 2003. Ron did not know of the previous sale to Harry. Ron records his deed on December 15, 2003. Who owns Hogacre?
Correct In all jurisdictions, Harry would win because Ron is not a bona-fide purchaser. To be a bona-fide purchaser, the buyer must not have notice of the previous transaction. If the previous transaction is recorded, the subsequent buyer is considered to be on notice of the previous transaction because the previous transaction would show up in a proper title search. Therefore, Ron is on notice about Harry's transaction and is not a bona-fide purchaser. Harry, therefore, owns Hogacre.
Incorrect! In all jurisdictions, Harry would win because Ron is not a bona-fide purchaser. To be a bona-fide purchaser, the buyer must not have notice of the previous transaction. If the previous transaction is recorded, the subsequent buyer is considered to be on notice of the previous transaction because the previous transaction would show up in a proper title search. Therefore, Ron is on notice about Harry's transaction and is not a bona-fide purchaser. Harry, therefore, owns Hogacre.
Correct
Incorrect!
Correct
Incorrect!
Question 5
Voldemort sells Hogacre to Harry on October 1, 2003. Harry tells Ron about the transaction on October 15, 2003. Voldemort sells the same property to Ron on November 1, 2003. Ron obviously did know of the previous sale to Harry. Ron records his deed on December 1, 2003. Harry records his deed on December 15, 2003 Who owns Hogacre?
Correct
Incorrect!
Correct
Incorrect!
Correct Correct! In all notice and race-notice jurisdictions, Harry would win because, as discussed in the previous example, Ron is not a bona-fide purchaser because he knew of the previous sale to Harry. However, in a strictly race-jurisdiction, where all that counts is who recorded first, Ron would win even though he did not make the purchase in good faith. Therefore, "it depends" is correct. Since very few jurisdictions are race jurisdictions, Harry is also an acceptable answer.
Incorrect! Correct! In all notice and race-notice jurisdictions, Harry would win because, as discussed in the previous example, Ron is not a bona-fide purchaser because he knew of the previous sale to Harry. However, in a strictly race-jurisdiction, where all that counts is who recorded first, Ron would win even though he did not make the purchase in good faith. Therefore, "it depends" is correct. Since very few jurisdictions are race jurisdictions, Harry is also an acceptable answer.