An owner conveyed her property to a buyer, who put the deed in his suitcase and took off for a five-month tour of the world. The owner, knowing that the buyer had left the country, sold the property to an investor who was not aware of the previous transaction. The investor did not record her deed. When the buyer returned from his trip, he recorded his deed. A month later, the investor conveyed the property to a developer. The developer knew that the buyer held a deed to the property but completed the transaction anyway. Instead of recording, however, the developer immediately filed an appropriate action against the buyer and against the investor to determine ownership of the property.

The property is situated in a jurisdiction containing the following statute: "Any conveyance of an interest in land, other than a lease for less than one year, shall not be valid against any subsequent purchaser for value, without notice, unless the conveyance is recorded."

How should the court rule?

Now do the following in your posts:

1. Conclude and explain why. In your explanation, be sure to provide the rule(s) and apply the law to the facts. Include or attach a chart or list showing the order of transfers and recordings.