What is the primary function of a race recording statute?

The primary function of a race recording statute is to allow a subsequent bona fide purchaser to prevail over a prior grantee. In jurisdictions that adopt a race statute, the law operates on the principle that the first party to record their interest in the property gains priority over any prior unrecorded interests, regardless of when those interests were created. This means that if a buyer purchases property and records their deed before the original grantee (the prior owner) records any competing claim, the new buyer holds superior claims to the property, as long as they acted in good faith and without notice of any prior claims.

The focus here is on the recording of interests in real property and ensuring that transactions are settled in an orderly manner that favors those who act quickly to establish their claims. Therefore, these statutes prioritize the actions of the parties involved, specifically the timing of when interests are recorded rather than the contractual agreements or other aspects surrounding the transactions.