Under Notice-Race Statutes,a Subsequent Purchaser of Real Estate Will Prevail

question 20

Multiple Choice

Under notice-race statutes,a subsequent purchaser of real estate will prevail if he or she:

• A) records the deed first.
• B) takes without actual knowledge of a prior unrecorded conveyance and records the deed first.
• C) takes with actual knowledge of the prior conveyance and records first.
• D) secures a guarantee of indemnification against title defects from the seller and records the written document first.

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Definitions:

Market Entry

The process by which a firm enters into a new market to compete and offer goods or services.

Price Falls

A decrease in the monetary value or market price of goods, services, or assets.

Producer Surplus

the difference between what producers are willing to accept for a good or service versus what they actually receive, due to higher market prices.

Market Entry

The act of beginning to sell goods or services in a new market.