New Mexico Notice of Option for Recording
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How to fill out New Mexico Notice Of Option For Recording?
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FAQ
A failure to record an instrument may render title un-marketable if a subsequent bona fide purchaser or creditor takes an interest in the property without notice of the instrument, by virtue of New Mexico's recording statutes which creates a race-notice regime.
There are some exceptions to the rule. Race-notice states Ohio and Pennsylvania follow the simple race rule for mortgage liens.
TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed. Publicly taking note or acknowledging the claim of another person with regard to real estate, such as the filing and recording of a deed.
Race-Notice Jurisdiction: A jurisdiction whose rule allows a subsequent bona-fide purchaser to prevail over an earlier purchaser if, and only if, the subsequent purchaser did not know of the earlier transfer and the subsequent purchaser's deed was recorded before the first purchaser's deed.
A recording act that gives priority of title to the party that records a claim first, even if the party had notice of an earlier unrecorded claim on the same property. See Notice statute and Race-notice statute.
A recording act that gives priority of title to the party that records first, but only if the party also lacked notice of prior unrecorded claims on the same property. See Notice statute and Race statute. PROPERTY. property & real estate law. wex definitions.
Currently, Alaska, Arkansas, California, Colorado, District of Columbia, Georgia, Hawaii, Idaho, Indiana, Kentucky, Maine, Maryland, Michigan, Minnesota, Mississippi, Montana, Nebraska, Nevada, New Jersey, New York, North Dakota, Ohio (regarding mortgages, OH follows the Race statute), Oregon, Pennsylvania (regarding
1. C Explanation: Recording an instrument provides constructive notice to the public of the interest set forth in the recorded instrument. 2. A Explanation: A corporate seal may be added where a corporation is grantor, in order to indicate that the person who signed had authority to sign on behalf of the corporation.
What is document recording. Recording refers to the act of receiving, processing and safekeeping official public information in accordance with local, state and federal law. Most recorded documents deal with the ownership and transfer of personal and real property.