14:03
hahahahah sure if you’re set on t14 it’s entirely attainable for you
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Simple English definitions for legal terms
pure race statute
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A quick definition of pure race statute:
A pure race statute is a law that states whoever records a document first, regardless of whether they had prior knowledge of it, will have priority over others who may have recorded the same document later. This law is only in effect in Louisiana and North Carolina. It is also known as a race statute or race act. This is different from a notice statute or race-notice statute, which takes into account whether the person recording had prior knowledge of the document.
A more thorough explanation:
Definition: A pure race statute is a recording act that gives priority to the person who records first, regardless of whether they had notice of any prior claims. Only two states, Louisiana and North Carolina, have pure race statutes. This is in contrast to notice statutes and race-notice statutes, which require the recording party to have notice of prior claims in order to have priority.
Example: Let's say that John sells his property to Jane, but forgets to record the sale with the county recorder's office. Later, John sells the same property to Bob, who records the sale immediately. Under a pure race statute, Bob would have priority over Jane, even though he had no knowledge of her prior claim to the property.
Explanation: This example illustrates how a pure race statute can give priority to the person who records first, regardless of notice. In this case, Bob recorded his claim to the property before Jane, so he would have priority under a pure race statute. This can create uncertainty for buyers and sellers, as they may not be aware of prior claims to the property that could affect their ownership rights.