- The bargain basement sale:
- EX: B paid $50,000 cash for Blackacre, when its fair market value is estimated at $100,000. Is B a purchaser for value? Yes, as long as B remits substantial pecuniary consideration.
- The case of the doomed donee: recording statutes do not protect donee’s heirs or devises unless the shelter rule applies.
- EX: B is O’s heir, or devisee, or donee. In a recording statute question, B loses unless the shelter rule applies.