created by [Section 544(a) ] assumes a transfer from the debtor to a bona fide purchaser on the date of filing. The trustee is then clothed with whatever legal rights the bona fide purchaser would possess.” (internal quotation marks omitted)). “As a hypothetical bona fide purchaser, the trustee ... is deemed to have conducted a title search, paid value for the property and perfected its interest as a legal title holder as of the date of the commencement of the case.” 5 Collier on Bankruptcy ¶ 544.06 (Alan N. Resnick & Henry J. Sommer, eds., 15th ed. rev.2007). The deemed title search, however, provides a trustee with constructive notice of properly executed and recorded real-estate instruments only, not of improperly executed or unrecorded ones. See Zaptocky, 250 F.3d at 1027-28 (<HOLDING>); Porter Drywall Co. v. Haven, Inc. (In re
holding that where individual held title to property as trustee but gave mortgage to bank in her individual capacity a title reference on the mortgage to the deed into her as trustee provided constructive notice that the mortgage was supposed to be from the individual as trustee or at the least that the holder of a subsequent interest would not be a bona fide purchaser holding that under ohio law the filing of a foreclosure complaint put the bankruptcy trustee on notice and thereby thwarted the trustees accession to the status of bona fide purchaser without notice holding that the trustee did not have constructive knowledge of an improperly executed mortgage because ohio law provided that an improperly executed mortgage does not provide constructive notice to a subsequent bona fide purchaser holding that a judgment creditor unlike a purchaser does not take subject to a prior mortgage which has been improperly recorded holding that the rights of a bona fide purchaser outweighed those of an under secured second mortgage holder