a.Race Statute (The race is to record)
i.This is the base line Common Law idea “first in time, first in right”
ii.Unrecorded deeds are not protected against subsequent purchasers who record first
iii.Actual notice without recording is irrelevant to subsequent purchasers (first to file wins)
iv.We didn’t talk about this much, but this is the reason Notice and Race/Notice were invented
b.Notice Statute
i.Unrecorded conveyances are not good against subsequent purchasers without notice
ii.Unrecorded conveyances are good against subsequent purchasers with notice
iii.Recorded conveyances are good against subsequent purchasers
c.Race/Notice Statute
i.Unrecorded conveyances are void against subsequent purchasers without notice who record first
d.Shelter Rule (Nemo Dat)
i.Transferee succeeds to all the rights the grantor has
ii.Rule protects subsequent purchasers from the initial owner who beats them to the punch and records first