(a) Validation. - All conveyances of swamplands, including regularly flooded estuarine marshlands, that have previously been made by the Literary Fund, the North Carolina Literary Board, or the State Board of Education are declared valid, and the person to whom the conveyance was made or his successor in title is declared to have title to the marshland.
(b) Reservation. - Areas of regularly flooded estuarine marshlands within conveyances validated by subsection (a) remain subject to all public trust rights.