What happens to a deed if a grantor promises to transfer but does not own the property at the time of transfer?

The scenario described involves a situation where a grantor is attempting to transfer property they do not own at the time of the transfer. When a grantor makes a promise to transfer property, this can be viewed as a type of contract to convey the property in the future. Therefore, the transfer can be deemed valid once the grantor acquires ownership of the property.

In property law, a deed typically transfers title to property at the moment of execution, but if the grantor lacks ownership at that moment, the conveyance does not take effect immediately. However, once the grantor acquires the property, the earlier promise or intent to convey it can indeed come into effect, meaning that the transfer would be deemed valid retroactively, as long as the deed meets any other legal requirements, such as proper execution.

The other choices do not correctly represent the legal principles involved in this situation. The deed being void immediately upon lack of ownership does not consider the grantor's ability to transfer once they do acquire the property. Meanwhile, the grantee retaining rights or the validity of the deed being contingent on recording does not capture the essence of how a grantor's promise functions in relation to future property acquisition.