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单词 race to the courthouse
释义

race to the courthouse


race to the courthouse

n. slang for the rule that the first deed, deed of trust, mortgage, lien or judgment which is recorded with the County Recorder will have priority and prevail over later recordings no matter when the documents were dated. (See: deed, mortgage, lien, judgment)

race to the courthouse


race to the courthouse

In a pure race state, the first party to file a deed, mortgage, or other instrument will take priority—will be given effect—before instruments filed afterward.As a result, a situation sometimes arises when there is a possibility of competing claims, such as a spouse or creditor who wants to file a claim against property before it is sold to another. In such situations, there is a race to the courthouse to file first—before anyone else.

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更新时间:2024/12/22 13:26:57