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(1) If any person conveys any real estate by conveyance purporting to convey the real estate in fee simple absolute, and at the time of the conveyance the person does not have the legal estate in the real estate, but afterwards acquires the legal estate:
(a) the legal estate subsequently acquired immediately passes to the grantee, the grantee's heirs, successors, or assigns; and
(b) the conveyance is as valid as if the legal estate had been in the grantor at the time of the conveyance.
(2) Subsection (1) does not apply to a conveyance by quitclaim deed.