If the trustee is possessed or entitled to any part of the lands in his individual right, he shall make a verified statement of his claim and record it, and if no adverse claim thereto is filed within the time allowed, he shall be deemed to be possessed and seized of the title thereto in fee simple, but subject to all assessments and taxes thereafter to be levied. If his claim is in conflict, the conflicting claims shall be transferred to the court and determined as other conflicting claims.