Certain persons considered to hold under color of title.
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(1) A purchaser in good faith at any judicial or tax sale made by the proper person or officer has color of title within the meaning of this chapter, whether or not the person or officer has sufficient authority to sell, unless the want of authority was known to the purchaser at the time of the sale.
(2)
(a) Any person has color of title who has occupied a tract of real estate by himself, or by those under whom he claims, for the term of five years, or who has occupied it for less time, if he, or those under whom he claims, have at any time during the occupancy with the knowledge or consent, express or implied, of the real owner made any valuable improvements on the real estate, or if he or those under whom he claims have at any time during the occupancy paid the ordinary county taxes on the real estate for any one year, and two years have elapsed without a repayment by the owner, and the occupancy is continued up to the time at which the action is brought by which the recovery of the real estate is obtained.
(b) The person's rights shall pass to his assignees or representatives.
(3) Nothing in this chapter shall be construed to give tenants color of title against their landlords or give any person a claim under color of title to school and institutional trust lands as defined in Section 53C-1-103.