AbstractorPro (Real Title Services)
Register
Log In
Forget your Password?

Home
Directory
Bulletins
Forums
Blogs
Articles
Links
Classifieds
About Us
Contact Us
Advertise
FAQ
Privacy Policy


Discussion
<< get older messagesget newer messages >>
to post a message: login - or - register | search messages | show all replies



[+] converting files to pdf - JOANN CALWELL/MD (26 replies)
8/15/2011 2:14:56 PM (3804 views)

At Vacant Homes Foraging for Fruit - Leigh Attridge/MA
8/15/2011 8:24:30 AM (4161 views)

[+] Core Logic?? - Kurt deVries/FL (3 replies)
8/12/2011 9:26:11 PM (3846 views)

After a 15 year legal battle over zoning the house will be razed - Leigh Attridge/MA
8/12/2011 3:20:55 PM (3995 views)

[-] Interesting Hypothetical Question - Robert Franco/OH (15 replies)
8/12/2011 11:48:43 AM (6814 views)

Sam owns a run-down property that he wants to get rid of. 

In the morning, Andy stops by to visit Sam and offers him $3,000 to buy it.  Sam accepts the offer and on the spot executes a warranty deed and delivers it to Andy.  Andy pays him $3,000 in cash.

In the afternoon, on the same day, Bruce visits Sam and offers him $3,000 to buy the property.  Sam accepts the offer and on the spot executes a warranty deed and delivers it to Bruce.  Bruce pays Sam $3,000 in cash.

Unbeknownst to Andy or Bruce, they both arrive at the courthouse at the same time to record their deeds.  Andy is first in line at the Auditor's office to pay the conveyance fee and get his deed stamped.  The clerk tells Andy that he needs to get the legal description approved first, and directs him to the Tax Map Office. 

Bruce gets a different clerk who doesn't realize that Andy has a deed for the same property. Bruce's deed gets the required stamp and proceeds to the recorder's office where his deed is properly recorded.

Andy gets his legal approved and goes back to the Auditor's office, where Bruce's transfer is not yet showing up in the Auditor's computer system.  Unaware that the property has already been transferred to Bruce, Andy gets the deed stamped and proceeds to the recorder's office where his deed is recorded... just minutes after Bruce's deed went on record.

Who is the legal owner of the property?

This hypothetical is based on a true set of facts recently relayed to me by another abstractor.  I realize that state laws may vary, but I thought it would make for a very interesting discussion.  First, because I think that strong arguments can be made supporting both Andy and Bruce.  Second, because I think it would be interesting to hear how much state law varies.  So, please, share your opinion of the status of the title to this property.

If we get some good responses, I promise to share the outcome of the "true story" on which this hypothetical is based.

Best,
Robert A. Franco
SOURCE OF TITLE

to post a reply: login - or - register


Re: Interesting Hypothetical Question - CHARLENE  PERRY/MD
8/12/2011 12:01:05 PM (5493 views)
Andy wins. - J. H./OH
8/12/2011 1:17:54 PM (5742 views)
Re: Andy wins. - Robert Franco/OH
8/12/2011 3:52:16 PM (5765 views)
Re: Interesting Hypothetical Question - Patrick Scott/IL
8/13/2011 3:35:54 PM (5720 views)
Re: Interesting Hypothetical Question - Robert Franco/OH
8/15/2011 9:59:49 AM (5498 views)
Re: Interesting Hypothetical Question - Jolene Lien/MN
8/15/2011 9:09:16 AM (5443 views)
Re: Interesting Hypothetical Question - WAYNE QUICK/NC
8/15/2011 9:55:41 AM (5382 views)
Re: Interesting Hypothetical Question - Jolene Lien/MN
8/15/2011 10:41:08 AM (5476 views)
Re: Interesting Hypothetical Question - Robert Franco/OH
8/15/2011 10:45:45 AM (5405 views)
Re: Interesting Hypothetical Question - Jolene Lien/MN
8/15/2011 10:55:34 AM (5370 views)
Re: Interesting Hypothetical Question - Patrick Scott/IL
8/15/2011 12:22:41 PM (5425 views)
Re: Interesting Hypothetical Question - Shona Dunning/WY
8/15/2011 1:23:09 PM (5299 views)
Re: Interesting Hypothetical Question - Robert Franco/OH
8/15/2011 1:36:44 PM (5357 views)
Re: Interesting Hypothetical Question - William Pattison /CA
8/15/2011 2:55:15 PM (5473 views)
Re: Interesting Hypothetical Question - Robert Franco/OH
8/15/2011 4:54:42 PM (5354 views)


Real Title Services


[+] 8MB Message Limit - Helene /GA (8 replies)
8/11/2011 9:30:03 PM (3304 views)

Georgetown v Marines 1923 - Smashmouth Football - Leigh Attridge/MA
8/11/2011 7:00:25 PM (4216 views)

Express National T/A Express TAE, Inc. - Jennifer Coffey/VA
8/10/2011 6:29:00 PM (3318 views)

[+] Question on protocol regarding up-charges - Kym/NJ (9 replies)
8/10/2011 3:24:04 PM (3287 views)

Massachusetts reaches 125 million settlement with subprime lender - Option One - Leigh Attridge/MA
8/9/2011 2:42:40 PM (4028 views)

[+] United Lender Services - Jack Johanson/PA (2 replies)
8/9/2011 2:25:01 PM (3857 views)

AAC Abstract - Marte Smith/WI
8/9/2011 9:37:11 AM (2803 views)

[+] AFX Title - Celia Franklin/GA (5 replies)
8/8/2011 8:18:20 PM (4277 views)

[+] Comment on "ALTA: Title insurance should be required for qualified residential mortgages" - Source of Title/OH (3 replies)
8/8/2011 4:11:16 PM (3017 views)

[+] Comment on "The Doctrine of Merger of Title and Deeds in Lieu of Foreclosure" - Source of Title/OH (2 replies)
8/8/2011 3:59:53 PM (4674 views)


<< get older messagesget newer messages >>

DISCLAIMER: These Message Forums are un-moderated and Source of Title does not endorse the content of any of the posts. Source of Title discourages libelous comments and you, as the sole creator of the content, take full responsibility for your remarks.
Directory

The Source of Title Business directory has 8870 listed companies.

Leave feedback on a company:
SOT ID #:  learn more...
DRN Title Search
Blogs

Read other users' blogs-- or start your own!

Most Recent Blog Posts:

Unveiling the Costs: Why Commercial Title Searches Command a Premium
Security American's Blog
2024/04/17
0 comments

Protecting Your Home: The Ins and Outs of Deed Theft and How to Shield Yourself
Security American's Blog
2024/03/21
0 comments

Exploring the Implications of Eliminating Mandatory Title Insurance
Security American's Blog
2024/03/11
0 comments

Articles

Source of Title articles help to keep you informed on the state of the title industry.

Existing-Home Sales Descended 4.3% in March
"Though rebounding from cyclical lows, home sales are stuck because interest rates have not made any major moves," said ...
Old Republic Title and CertifID Sign Agreement to Combat Mortgage Payoff Fraud
Mortgage payoffs have become the largest source of loss for title and real estate law firms, due to their large transact...
Mortgage Applications Increase in Latest MBA Weekly Survey
“Rates increased for the second consecutive week, driven by incoming data indicating that the economy remains stro...
ALTA Commends Leadership of House Democrats Questioning Administration's Title Waiver Program
The American Land Title Association, the national trade association of the land title insurance industry, commends the g...
Housing Starts Fall on Interest Rate, Financing Concerns
“Builders are grappling on several fronts as the inflation fight continues,” said Carl Harris, chairman of t...

Search Articles:
browse...

Classifieds

Buy, sell, or trade! Browse the ads or post your own!

© 2020, Source of Title.