7-2-2722. Disposition of property. Each county to which any part of the territory of an abandoned county is attached and made a part:

(1) shall succeed to, must have, must possess, and shall own all real estate, all improvements on the property, all tangible property, and all county highways situated within the territory of the abandoned county attached to the county and all certificates of tax lien sales to lands and improvements on the lands situated within the territory; and

(2) has the same right and power to sell and assign the certificates and to apply for and obtain tax deeds to the lands and improvements and to sell and dispose of the lands and improvements as were or would have been possessed by the abandoned county if it had not been abandoned.