Race-Notice Statute
/ˈreɪsˌnoʊtɪs ˈstætʃuːt/
Definitions
- (n.) A statute providing that a subsequent purchaser for value of property will prevail over a prior purchaser only if the subsequent purchaser takes in good faith and without notice of the prior claim.
Under a race-notice statute, the second buyer wins if they purchased without knowledge of the first buyer's interest and recorded first.
Forms
- race-notice statute
- race-notice statutes
Related terms
See also
Commentary
In jurisdictions with race-notice statutes, diligence in recording title is crucial; this statute balances protection of bona fide purchasers and the priority of recorded interests.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.