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



[+] JTWRS - Paula Reynolds/FL (2 replies)
8/22/2011 6:02:14 AM (3996 views)

[+] BEWARE of these companies - Diane Brookerd/AL (12 replies)
8/19/2011 6:49:24 PM (4766 views)

[+] AltiSource - Carrin/TX (6 replies)
8/19/2011 10:52:46 AM (4485 views)

ACME Abstract - Florida - beware - Jason Knowles/AL
8/19/2011 9:23:56 AM (3492 views)

[+] Comment on "American Land Title Association Reports Record Membership" - Source of Title/OH (4 replies)
8/18/2011 4:55:52 PM (4098 views)




[+] upgrading price to a full search - Deborah Manion/VA (5 replies)
8/18/2011 4:19:54 PM (4181 views)

[+] Federal enquiries into S&P mortgage ratings - Leigh Attridge/MA (6 replies)
8/18/2011 6:14:03 AM (5294 views)

[+] Canceling orders - Carla Curry/KY (1 reply)
8/17/2011 5:15:06 PM (4276 views)

[+] Hypothetical Question: New Unions Impact on Title - William Pattison /CA (3 replies)
8/17/2011 8:47:14 AM (3697 views)

[+] Another Hypothetical: Survivorship - Robert Franco/OH (16 replies)
8/16/2011 12:22:43 PM (6492 views)

[+] converting files to pdf - JOANN CALWELL/MD (26 replies)
8/15/2011 2:14:56 PM (4181 views)

At Vacant Homes Foraging for Fruit - Leigh Attridge/MA
8/15/2011 8:24:30 AM (4597 views)

[+] Core Logic?? - Kurt deVries/FL (3 replies)
8/12/2011 9:26:11 PM (4249 views)

After a 15 year legal battle over zoning the house will be razed - Leigh Attridge/MA
8/12/2011 3:20:55 PM (4380 views)

[-] Interesting Hypothetical Question - Robert Franco/OH (15 replies)
8/12/2011 11:48:43 AM (7392 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 (6228 views)
Andy wins. - J. H./OH
8/12/2011 1:17:54 PM (6535 views)
Re: Andy wins. - Robert Franco/OH
8/12/2011 3:52:16 PM (6546 views)
Re: Interesting Hypothetical Question - Patrick Scott/IL
8/13/2011 3:35:54 PM (6542 views)
Re: Interesting Hypothetical Question - Robert Franco/OH
8/15/2011 9:59:49 AM (6260 views)
Re: Interesting Hypothetical Question - Jolene Lien/MN
8/15/2011 9:09:16 AM (6194 views)
Re: Interesting Hypothetical Question - WAYNE QUICK/NC
8/15/2011 9:55:41 AM (6192 views)
Re: Interesting Hypothetical Question - Jolene Lien/MN
8/15/2011 10:41:08 AM (6238 views)
Re: Interesting Hypothetical Question - Robert Franco/OH
8/15/2011 10:45:45 AM (6166 views)
Re: Interesting Hypothetical Question - Jolene Lien/MN
8/15/2011 10:55:34 AM (6143 views)
Re: Interesting Hypothetical Question - Patrick Scott/IL
8/15/2011 12:22:41 PM (6197 views)
Re: Interesting Hypothetical Question - Shona Dunning/WY
8/15/2011 1:23:09 PM (6076 views)
Re: Interesting Hypothetical Question - Robert Franco/OH
8/15/2011 1:36:44 PM (6100 views)
Re: Interesting Hypothetical Question - William Pattison /CA
8/15/2011 2:55:15 PM (6257 views)
Re: Interesting Hypothetical Question - Robert Franco/OH
8/15/2011 4:54:42 PM (6210 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 8947 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:

AI as a Tool for Title Searchers
Michael Gigliotti's Blog
2025/06/11
0 comments

AI Isn’t Ready for Title Searches — Here’s Why
Security American's Blog
2025/06/11
1 comments

Why Title Searching Is Crucial to the Solar and Wind Energy Sector
Marissa Berends's Blog
2025/06/09
0 comments

Articles

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

NAR Board of Directors Ratifies Changes to Standard of Practice 10-5 and Professional Standards Policy Statement 29
“NAR continually assesses and, when appropriate, amends the Code of Ethics to ensure the specific articles are cle...
Mortgage Applications Decrease in Latest MBA Weekly Survey
“Most mortgage rates moved lower last week, with the 30-year fixed rate declining to 6.92 percent and staying in t...
Commercial and Multifamily Mortgage Delinquency Rates Increased in First-Quarter 2025
“Commercial mortgage delinquencies rose across all major capital sources in the first quarter of 2025, reflecting ...
NAR Chief Economist Lawrence Yun Says Mortgage Rates' Fast Rise Hurt Housing Market, During REALTORS® Legislative Meetings Economic Forum
"The housing market remains very difficult at the moment, as you know," Yun told a ballroom of real estate professionals...
Mixed Conditions for Single-Family Construction, Apartment Boost in Smaller Metros
“Single-family housing construction moderated to start the year as economic expectations remain uncertain,” ...

Search Articles:
browse...

Classifieds

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

© 2020, Source of Title.