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Who qualifies as a purchaser for value?

Bar Exam Prep Real Property Conveyances Who qualifies as a purchaser for value?
🏠 Real Property • Conveyances PROP#195

Legal Definition

Recording acts protect subsequent purchasers for value, which includes: (1) purchasers of a fee or lesser estate, and (2) mortgagees for value.

They do not protect (1) donees, (2) heirs, or (3) devisees. A plaintiff who obtains a money judgment can place a judgment lien on the defendant's real property by filing the judgment in the appropriate county office—but they are not protected against a prior unrecorded conveyance by the defendant.

Plain English Explanation

Recording acts protect innocent parties who have given up something of value (usually money). It does not protect innocent parties who received the property for free as either a gift or inheritance.
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