North Dakota Sample Letter for Original Recorded Warranty Deed
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How to fill out Sample Letter For Original Recorded Warranty Deed?
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Currently, Alaska, Arkansas, California, Colorado, District of Columbia, Georgia, Hawaii, Idaho, Indiana, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Montana, Nebraska, Nevada, New Jersey, New York, North Dakota, Ohio (regarding mortgages, Ohio follows the race statute), Oregon, ...
A typical ?race-notice? statute will read something like this: ?No conveyance is valid against a subsequent bona-fide purchaser who has no notice of the original conveyance and who has recorded the deed to his conveyance first.?
The term that refers to the person conveying title, often called the "party of the first part," in a deed is the grantor. The grantor is the person who transfers ownership or rights to real property to another party, the grantee.
A North Dakota property owner may transfer or retitle real estate during the owner's life using a signed, written deed. A North Dakota deed must satisfy the legal requirements described below to be eligible for recording and to legally transfer title to the new owner.
Before a warranty deed can be recorded in North Dakota, it must be signed and acknowledged by the grantor, and must contain original signatures (47-19-03). If a warranty deed has not been acknowledged as required, it must be proved by a subscribing witness to entitle it to be recorded (47-10-05).
A recording act that gives priority of title to the party that records first, but only if the party also lacked notice of prior unrecorded claims on the same property.
Race-Notice Statute. Under a race-notice statute, a later purchaser of an interest has the priority interest if the later purchaser is a bona fide purchaser and records the interest first in time. The bona fide purchaser cannot have constructive, actual, or inquiry notice of any other claim against the property.
Race ? whoever records first will prevail. Notice ? a subsequent bona fide purchaser who lacks notice of an earlier interest will prevail. Race-notice ? a subsequent bona fide purchaser who lacks notice of an earlier interest AND records first will prevail.
