Recording Acts and the Protection of Bona Fide Purchasers
Explore the three varieties of recording acts (i.e., race, notice, and race-notice), their underlying purpose, and the protections afforded to a bona fide purchaser (BFP).
Welcome to Recording Acts and the Protection of Bona Fide Purchasers!
We have an ambitious agenda for this clip. First, we’ll use a hypothetical to introduce you to the types of problems that recording acts are meant to solve. Next, we’ll define exactly who is protected by the recording acts—namely, a bona-fide purchaser for value without notice, commonly known as the “BFP.” Afterwards, we’ll discuss the three types of recording acts: Race, notice, and race-notice. Then, we’ll discuss “chain...