Answer to Question 1
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Answer to Question 2
In a race jurisdiction, the first to record the document is given priority over all others. It is a first in time first in right rule.
In a notice jurisdiction, if someone records but has notice of the existence of another transfer his recording is invalid against someone who later records but has no notice. This is the good faith purchaser rule that prohibits those with actual or constructive knowledge of another transaction from receiving title.
The race-notice jurisdiction in a combination of the two in that priority is given to the first good faith purchaser to record.
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