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[+] Federal enquiries into S&P mortgage ratings - Leigh Attridge/MA (6 replies)
8/18/2011 6:14:03 AM (5814 views)

[+] Canceling orders - Carla Curry/KY (1 reply)
8/17/2011 5:15:06 PM (4693 views)

[+] Hypothetical Question: New Unions Impact on Title - William Pattison /CA (3 replies)
8/17/2011 8:47:14 AM (4164 views)

[+] Another Hypothetical: Survivorship - Robert Franco/OH (16 replies)
8/16/2011 12:22:43 PM (7158 views)

[+] converting files to pdf - JOANN CALWELL/MD (26 replies)
8/15/2011 2:14:56 PM (4586 views)




At Vacant Homes Foraging for Fruit - Leigh Attridge/MA
8/15/2011 8:24:30 AM (5020 views)

[+] Core Logic?? - Kurt deVries/FL (3 replies)
8/12/2011 9:26:11 PM (4706 views)

After a 15 year legal battle over zoning the house will be razed - Leigh Attridge/MA
8/12/2011 3:20:55 PM (4816 views)

[-] Interesting Hypothetical Question - Robert Franco/OH (15 replies)
8/12/2011 11:48:43 AM (8142 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

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Re: Interesting Hypothetical Question - CHARLENE  PERRY/MD
8/12/2011 12:01:05 PM (7843 views)
Andy wins. - J. H./OH
8/12/2011 1:17:54 PM (8170 views)
Re: Andy wins. - Robert Franco/OH
8/12/2011 3:52:16 PM (8117 views)
Re: Interesting Hypothetical Question - Patrick Scott/IL
8/13/2011 3:35:54 PM (8185 views)
Re: Interesting Hypothetical Question - Robert Franco/OH
8/15/2011 9:59:49 AM (7882 views)
Re: Interesting Hypothetical Question - Jolene Lien/MN
8/15/2011 9:09:16 AM (7771 views)
Re: Interesting Hypothetical Question - WAYNE QUICK/NC
8/15/2011 9:55:41 AM (7774 views)
Re: Interesting Hypothetical Question - Jolene Lien/MN
8/15/2011 10:41:08 AM (7857 views)
Re: Interesting Hypothetical Question - Robert Franco/OH
8/15/2011 10:45:45 AM (7773 views)
Re: Interesting Hypothetical Question - Jolene Lien/MN
8/15/2011 10:55:34 AM (7783 views)
Re: Interesting Hypothetical Question - Patrick Scott/IL
8/15/2011 12:22:41 PM (7793 views)
Re: Interesting Hypothetical Question - Shona Dunning/WY
8/15/2011 1:23:09 PM (7715 views)
Re: Interesting Hypothetical Question - Robert Franco/OH
8/15/2011 1:36:44 PM (7712 views)
Re: Interesting Hypothetical Question - William Pattison /CA
8/15/2011 2:55:15 PM (7816 views)
Re: Interesting Hypothetical Question - Robert Franco/OH
8/15/2011 4:54:42 PM (7797 views)

[+] 8MB Message Limit - Helene /GA (8 replies)
8/11/2011 9:30:03 PM (4155 views)

Georgetown v Marines 1923 - Smashmouth Football - Leigh Attridge/MA
8/11/2011 7:00:25 PM (5206 views)

Express National T/A Express TAE, Inc. - Jennifer Coffey/VA
8/10/2011 6:29:00 PM (4004 views)

[+] Question on protocol regarding up-charges - Kym/NJ (9 replies)
8/10/2011 3:24:04 PM (4102 views)

Massachusetts reaches 125 million settlement with subprime lender - Option One - Leigh Attridge/MA
8/9/2011 2:42:40 PM (4930 views)

[+] United Lender Services - Jack Johanson/PA (2 replies)
8/9/2011 2:25:01 PM (4615 views)


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