Race-notice statute

{
  "id": "MLC-T-LAW-004102",
  "term": "Race-notice statute",
  "field": "Law",
  "definition": "A type of recording act that determines priority of interests in real property based on both the order of recording and whether the subsequent purchaser had notice of a prior unrecorded interest. Under a race-notice statute, a subsequent purchaser must record their interest first and must not have had notice of any earlier unrecorded claims to take priority. This system balances the incentives for recording with protection for good faith purchasers.",
  "url": "https://mlchart.com/terminology/law/race-notice-statute/"
}