Real Property: The Recording System: Two Routine Value Questions

Two routine value questions:
    • 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.