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



[+] BEWARE of these companies - Diane Brookerd/AL (12 replies)
8/19/2011 6:49:24 PM (4724 views)

[+] AltiSource - Carrin/TX (6 replies)
8/19/2011 10:52:46 AM (4459 views)

ACME Abstract - Florida - beware - Jason Knowles/AL
8/19/2011 9:23:56 AM (3460 views)

[+] Comment on "American Land Title Association Reports Record Membership" - Source of Title/OH (4 replies)
8/18/2011 4:55:52 PM (4047 views)

[+] upgrading price to a full search - Deborah Manion/VA (5 replies)
8/18/2011 4:19:54 PM (4150 views)




[+] Federal enquiries into S&P mortgage ratings - Leigh Attridge/MA (6 replies)
8/18/2011 6:14:03 AM (5233 views)

[+] Canceling orders - Carla Curry/KY (1 reply)
8/17/2011 5:15:06 PM (4247 views)

[+] Hypothetical Question: New Unions Impact on Title - William Pattison /CA (3 replies)
8/17/2011 8:47:14 AM (3659 views)

[+] Another Hypothetical: Survivorship - Robert Franco/OH (16 replies)
8/16/2011 12:22:43 PM (6420 views)

[+] converting files to pdf - JOANN CALWELL/MD (26 replies)
8/15/2011 2:14:56 PM (4146 views)

At Vacant Homes Foraging for Fruit - Leigh Attridge/MA
8/15/2011 8:24:30 AM (4534 views)

[+] Core Logic?? - Kurt deVries/FL (3 replies)
8/12/2011 9:26:11 PM (4214 views)

After a 15 year legal battle over zoning the house will be razed - Leigh Attridge/MA
8/12/2011 3:20:55 PM (4337 views)

[-] Interesting Hypothetical Question - Robert Franco/OH (15 replies)
8/12/2011 11:48:43 AM (7342 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 (6105 views)
Andy wins. - J. H./OH
8/12/2011 1:17:54 PM (6393 views)
Re: Andy wins. - Robert Franco/OH
8/12/2011 3:52:16 PM (6414 views)
Re: Interesting Hypothetical Question - Patrick Scott/IL
8/13/2011 3:35:54 PM (6405 views)
Re: Interesting Hypothetical Question - Robert Franco/OH
8/15/2011 9:59:49 AM (6132 views)
Re: Interesting Hypothetical Question - Jolene Lien/MN
8/15/2011 9:09:16 AM (6068 views)
Re: Interesting Hypothetical Question - WAYNE QUICK/NC
8/15/2011 9:55:41 AM (6043 views)
Re: Interesting Hypothetical Question - Jolene Lien/MN
8/15/2011 10:41:08 AM (6111 views)
Re: Interesting Hypothetical Question - Robert Franco/OH
8/15/2011 10:45:45 AM (6039 views)
Re: Interesting Hypothetical Question - Jolene Lien/MN
8/15/2011 10:55:34 AM (6021 views)
Re: Interesting Hypothetical Question - Patrick Scott/IL
8/15/2011 12:22:41 PM (6064 views)
Re: Interesting Hypothetical Question - Shona Dunning/WY
8/15/2011 1:23:09 PM (5949 views)
Re: Interesting Hypothetical Question - Robert Franco/OH
8/15/2011 1:36:44 PM (5995 views)
Re: Interesting Hypothetical Question - William Pattison /CA
8/15/2011 2:55:15 PM (6123 views)
Re: Interesting Hypothetical Question - Robert Franco/OH
8/15/2011 4:54:42 PM (6008 views)

[+] 8MB Message Limit - Helene /GA (8 replies)
8/11/2011 9:30:03 PM (3675 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:

USA-based Abstractors - Part 1
Denise. Williams.'s Blog
2025/01/31
0 comments

Title Search in Maryland
Security American's Blog
2025/01/23
0 comments

Unique Aspects of Title Search in Virginia
Security American's Blog
2024/07/08
2 comments

Articles

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

Existing-Home Sales Receded 5.9% in March
"Home buying and selling remained sluggish in March due to the affordability challenges associated with high mortgage ra...
Decline in Mortgage Rates Helps to Increase New Home Sales in March
“The March new home sales data shows that demand continues to be present in the market, provided affordability con...
Mortgage Applications Decrease in Latest MBA Weekly Survey
“Overall mortgage application activity declined last week, as rates increased to their highest level in two months...
NAHB, Alair Homes Announce Final New American Home in Orlando
The National Association of Home Builders today unveiled exciting new details of its official show home of the NAHB Inte...
Alanna.ai Names McAlpine Director of Marketing
According to alanna.ai President and Co-Founder, Hoyt Mann, McAlpine will be asked to expand the positioning of the bran...

Search Articles:
browse...

Classifieds

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

© 2020, Source of Title.