some days things just come together & a light bulb goes off. it sort of happened for me today with one small area of the law. there are different kind of requirements for when you buy real estate about recording your interests to protect yourself from a seller who sells his land to more than one person. these statutes are written in the most distressing format, so that unless you've read them a bunch of times, it's nearly impossible to make heads or tails of what they are saying--and even if you do, to figure out how to apply them. i don't think i fully got it when we covered it in class. today we took a practice test in a class i'm doing with my school, and i finally understood how to tell the difference between the statutes and how to apply each of them.
so for your enjoyment, here are the two most common statutes:
"No conveyance, transfer or mortgage of real property shall be good and effectual in law or equity against creditors or subsequent purchasers for a valuable consideration and without notice, unless the same be recorded." (notice statute)
"Every conveyance of real estate which shall not be recorded shall be void as against any subsequent purchaser in good faith, and for a valuable consideration of the same estate or any portion thereof, whose conveyance shall be first duly recorded." (race-notice statute)
i won't bore you with the details of what they mean or how they're tested. just thought i'd share a snapshot of the wonderful experience that is studying for the bar exam. 4 weeks and counting...
oh, and property law is actually my favorite subject. it's the most antiquated, and therefore the most complex, and therefore the most interesting to me. i suppose some commercial transactions are far more complex, but there's just something so much more interesting about fighting over LAND than fighting over money.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment