Disposal of unclaimed timber

If no such statement is presented as aforesaid, or if the claimant omits to prefer his claim in the manner and within the period prescribed by the notice issued under section 43, or on such claim having been so preferred by him and having been rejected, omits to institute a suit to recover possession of such timber within the further period specified in section 44, the ownership of such timber shall vest in the Government or when such timber has been delivered to another person under section 44, in such other person free from all encumbrances not created by him.