Oklahoma Notice of Option for Recording

Oklahoma is considered a "race-notice" jurisdiction, meaning that a subsequent purchaser for value (i.e. a subsequent bona fide purchaser) has a superior claim over a prior purchaser of the same interest if the subsequent purchaser (1) records before the prior purchaser and (2) at the time of the conveyance, the

The purpose of recording a document is to provide a traceable chain of title to the property (chain of title is evidence that a piece of property has validly passed down through the years from one owner to the next).

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.

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.

There are three basic kinds of statutory schemes in recording acts: race, notice, and race/notice. Even though a recording act does not require recordation, the law does create strong incentive for a buyer to record.

Title deeds do not have to be recorded. Recording is filing them in the county recorder's office and if recorded, the title deed acts as defacto notice to all third parties as to ownership in the property.

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.

Race statutes are extremely rare because it is generally viewed as unfair to protect a party who had actual notice of a prior conveyance. Currently, Delaware, North Carolina, and Louisiana are the only jurisdictions where a race statute is in effect.

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.