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Owner conveyed Blackacre to Alice by warranty deed. Alice paid value but did not record. Alice then conveyed Blackacre to Builder by warranty deed, and Builder promptly recorded. The land records still showed Owner as the record owner because Alice's deed from Owner had not been recorded.
One year later, Owner conveyed Blackacre to Carla for full value. Carla searched the grantor-grantee index under Owner's name and found no deed from Owner to Alice. Carla did not search under Alice's name because Alice did not appear in Owner's chain of title. No one was in possession of Blackacre. Carla recorded immediately.
Carla later conveyed Blackacre to Developer for value. Before buying, Developer learned about Builder's recorded deed from Alice, but Developer also knew that Carla had bought without knowledge of Alice or Builder. Builder sued Developer to quiet title.
Discuss the competing claims of Builder, Carla, and Developer. Address chain of title, wild deeds, bona fide purchaser protection, and the shelter rule.