Any act which would be effective as a conveyance inter vivos or as a mortgage or as a testamentary disposition of property when the land or thing other than land is in the possession of the conveyor, is effective as a conveyance of the conveyor's interest therein, when the land or thing other than land is out of the conveyor's possession whether adversely held or not.
Conveyance, mortgage, or devise of property not in possession
28 V.I.C. § 5 — under Estates in Property Generally.
28 V.I.C. § 5