race to the courthouse


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race to the courthouse

In a pure race state, the first party to file a deed, mortgage, or other instrument will take priority—will be given effect—before instruments filed afterward.As a result, a situation sometimes arises when there is a possibility of competing claims, such as a spouse or creditor who wants to file a claim against property before it is sold to another. In such situations, there is a race to the courthouse to file first—before anyone else.

References in periodicals archive ?
Race to the courthouse -- Debts placed directly with law firms are usually sued upon quicker those placed with collection agencies.
Creditors have begun a race to the courthouse. In this scenario, one or more other creditors have filed suit against the debtor and are about to take judgments against it.
"Is it a race to the courthouse?" he asked Chaiten.
John Lynch and the Senate to craft language to amend the Constitution that will stop the race to the courthouse and end the nonsense and instability of spreadsheet politics.
After the decedent's death, three years after his move to Florida, notice of administration of the Florida will was sent to the decedent's daughter in Maryland and she won the "race to the courthouse" by filing a petition to probate the Florida will there, claiming the decedent was actually a Maryland resident.
Further, in interstate and international scenarios, the principle is discretionary, such that winning the "race to the courthouse" does not necessarily mean a subsequent suit will be stayed.
One document describes it as a "race to the courthouse." Another declares that "inaction is action."