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Registered
Join Date: Mar 2003
Location: Charlottesville Va
Posts: 6,015
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Yes. So long as no one files another deed in the interim.
The delivery of the deed accomplishes the transfer of ownership but recording is what creates protection against other claims. The legal term is "bonafide purchaser".
If Kermit sits on the deed to him, and in the meantime Rufus, without knowledge of Kermit now owning it, takes a deed from Kermit's grantor and records it, Rufus is protected from Kermit, as Rufus is a "bonafide purchaser". If Rufus knew about Kermit's deed, then Kermit still owns.
The question is why not record? To not transfer the tax obligation?
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Greg Lepore
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Last edited by greglepore; 11-23-2024 at 07:15 AM..
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