A father conveyed his land to his son by warranty deed. The…
A father conveyed his land to his son by warranty deed. The deed stated that the son paid $125,000 for the land but, in fact, the son had not. However, the son and the father agreed orally that the son would not record the deed until he paid the father the $125,000. The son neither paid the father nor recorded the deed for three years, at which time the property values in the area began to climb rapidly. Wishing to turn a fast profit, the son recorded the deed from the father and one week later conveyed the land to a buyer for $200,000. The buyer promptly recorded the deed. When the father discovered what had transpired, he filed a lawsuit, and the court determined that the son owed the father $125,000. Unfortunately, the son and his $200,000 from the buyer are nowhere to be found. The father asked the court to levy on the land, which the buyer opposed. The jurisdiction in which the land is located has the following statute: “No interest in land shall be good against a subsequent purchaser for value, without notice, unless the interest is recorded.” Which of the following is the buyer’s best defense against the levy?