Lands situated in municipalities which have heretofore escheated to or titles thereto become vested in the state, and which have been sold by the land commissioner of the state at a fair and reasonable price but under invalid patents, may be conveyed to the original holder of the patents or, if he has sold same, to his vendee at such reasonable price as the land commissioner with the approval of the governor and the attorney general shall fix; and such purchaser shall be allowed as credit on such price the amount heretofore paid therefor, with six percent (6%) interest compounded annually on the same not to exceed the present value as fixed by such officers. And no land heretofore sold, or attempted to be sold, shall again be sold until a period of thirty (30) days after the mailing of notice by registered mail to the original buyer or his vendee, if his post-office address is known, informing such buyer or his vendee of his rights hereunder. Whenever the post office address of such person is not known, notice shall be published in a newspaper published in the county where the land is located, once a week for two (2) weeks, giving a description of such land and of the rights of such buyers or their vendees. No deed shall be made to such buyer or his vendee until such person shall make affidavit that he bought the same in good faith and has not since sold his interest therein.
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