13:57
definitely not ambitious at all. this cycle's turning out to be as slow as the last one probably due to high app volume
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LSDefine
Simple English definitions for legal terms
race act
Read a random definition: territorial
A quick definition of race act:
A race act, also known as a race statute, is a law that states whoever records a property first, regardless of whether they knew about any previous claims, has priority over others. Only two states, Louisiana and North Carolina, have race statutes. This is different from a notice statute or a race-notice statute, which take into account whether the person recording had notice of any previous claims.
A more thorough explanation:
Definition: A recording act that gives priority to the person who records first, regardless of whether they had notice of any other claims. This act is only in effect in Louisiana and North Carolina.
Example: If two people claim ownership of the same property, but one records their claim before the other, the person who recorded first will have priority over the other.
This means that even if the person who recorded first had no knowledge of the other claim, they will still have priority over the other person. This is different from a notice statute, which requires the person recording to have knowledge of any other claims in order to have priority.