(a) If the court declares that the person is dead, it may terminate the guardianship proceedings pursuant to § 13-221 of the Estates and Trusts Article.
(b) Unless the court has terminated the guardianship proceeding under subsection (a) of this section, the court, after a lapse of five years from the appointment of a guardian or a lapse of one year when the person has been missing for more than 20 years, may enter a decree declaring that all interest of the absentee in his property has ceased, provided the absentee has not appeared in the meantime. The court then shall terminate the guardianship proceeding as if the absentee had died.