Notice of claim filed within forty-year period.

(b) If the same record owner of any possessory interest in land has been in possession of that land continuously for a period of forty years or more, during which period no title transaction with respect to the interest appears of record in his chain of title and no notice has been recorded by him or on his behalf as provided in subsection (a) of this section, and the possession continues to the time when marketability is being determined, that period of possession shall be deemed equivalent to the recording of the notice immediately preceding the termination of the forty-year period described in subsection (a) of this section. Cited. 171 C. 149; 183 C. 59; 219 C. 81; 239 C. 199. Cited. 3 CA 550; 44 CA 683; 46 CA 525. Cited. 34 CS 31.