What is the primary characteristic of a race-notice statute?

A race-notice statute primarily combines elements of both notice and race in determining the priority of competing property interests. In jurisdictions that adopt this type of statute, a subsequent purchaser for value is protected against prior unrecorded interests if they record their deed first and thus "race" to the recording office. This means that a buyer must not only give notice of their interest (meaning they are not aware of the prior unrecorded claim), but they must also complete the recording process before any prior claimants do.

The correct choice emphasizes this dual requirement, which distinguishes race-notice statutes from other types of statutes such as notice statutes, which protect purchasers regardless of when they record, provided they did not have actual knowledge of prior claims. Understanding this concept is crucial for effectively navigating real estate transactions and the related legal implications.