If any person sells and conveys to another by deed or conveyance, purporting to convey an estate in fee simple absolute, any tract of land or real estate lying and being in this state, not being possessed of the legal estate or interest therein at the time of the sale and conveyance and, after such sale and conveyance, the vendor becomes possessed of and confirmed in the legal estate of the land or real estate so sold and conveyed, it shall be taken and held to be in trust and for the use of the grantee or vendee, and said conveyance shall be held and taken, and shall be as valid as if the grantor or vendor had the legal estate or interest at the time of said sale or conveyance.
Source: R.S. p. 106, § 4. G.L. § 163. G.S. § 201. R.S. 08: § 672. C.L. § 4873. CSA: C. 40, § 5. CRS 53: § 118-1-4. C.R.S. 1963: § 118-1-4.