(a)
(1) If any person believing himself or herself to be the owner, either in law or equity, under a clerk's tax deed or a Commissioner of State Lands' forfeited land deed, containing a valid and proper description constituting color of title, has, or shall, peaceably improve any land by having the boundaries surveyed and corners established by the county surveyor of the county in which the land is situated and, upon judicial investigation of the title to the land, it is found that the forfeiture for nonpayment of taxes is void and that the land belongs to another or that the former owner is entitled to redeem from the tax forfeiture, the value of the improvement to the land by reason of the survey shall be paid by the successful party to the holder of the tax deed.
(2) The holder of the tax deed shall have a lien on the lands for this amount, which may be enforced by equitable proceedings at any time within three (3) years after the date of the judgment.
(b) This section shall not repeal any statute providing for recovery of improvements and betterments but shall be cumulative to § 18-60-213(a) and to all other existing laws not inconsistent with it.