(a)
(1) If the owner of property sold to collect delinquent municipal improvement district assessments shall come into court at any time within the period allowed for redemption and shall waive his right of redemption, the court shall order the purchaser to pay the amount that may be going to him within twenty (20) days after service of a copy of the order made on him to that effect.
(2) The payment shall be made into court for the benefit of the owner.
(b) On failure of the purchaser to make the payment, the court shall make an order setting aside the sale and restoring the property to the owner free from all claims of the purchaser, upon payment into court for his use of the amount of the assessment, penalty, and costs, and twenty percent (20%) thereon, which shall be paid over to the purchaser on his application.
(c)
(1) In case the certificate of purchase shall have been assigned, the notice provided for in this section may be served on the assignee holding it.
(2) In case the owner of the certificate of purchase shall not be known and that fact shall be made apparent to the court, the court shall cause publication to be made of a copy of the order in some newspaper published in the city for two (2) insertions. The last insertion shall be at least two (2) weeks before the making of the order contemplated in this section.