Texas said:Have a question?
As this thread mentions the MERS Membership Agreement and Rules was brought to notice within the court. Would this Membership Agreement along with possible other MERS contracts constitute "Actual Notice"?
Would "Actual Notice" be as similar to "Constructive Notice" in public records affect the status of "Bona Fide Purchaser"?
I am unclear what you are asking.
Actual notice usually means that someone ACTUALLY KNOWS some particular fact. Constructive notice usually means that person can be charged with notice either because the law imposes a duty upon a person to make certain inquires OR a reasonably diligent person OUGHT TO HAVE MADE such inquiries.
A purchaser is usually charged with constructive notice of the recorded land records. In many places, a buyer might have constructive notice of the interest of a person actually residing on or occupying the property, though this could get more fact dependent. For example, if Smith has a deed, but fails to record, but is actually residing on property Blackacre, with a large sign at the front gate that says "Smith Ranch" and Smith is shown on the tax rolls as the owner, this might impose a duty of inquiry in some jurisdictions as to what sort of interest Smith claims in the property. (In "race" statute states this wouldn't usually matter.)
A person might also be deemed to somehow have constructive notice of legal notices published within a newspaper of general circulation in his area of residence, though historically, one could scarcely charge a person with constructive notice of newspaper ads in faraway or foreign places. One could argue that the Internet has brought everyone closer, but even IF I can access the local newspaper for Nome, Alaska from tehconvenience of my keyboard, I can hardly be charged with constructive notice of what happens in Nome, because the Internet is so vast and information so abundant that even given ease of accessibility, this cannot imply a duty to explore and read EVERYTHING (which would be an impossibility).
A third kind of notice would be judicial notice. A court can usually take judicial notice at the request of a party OR sua sponte. The requisites of judicial notice vary from place to place. A key issue is the reliability of the information.