If the court finds that the applicant has not title proper for registration, a decree shall be entered dismissing the application and the decree may be ordered to be without prejudice in whole or in part; but unless it is so ordered, it shall bind the parties, their privies, and the land in respect to any issue of fact which has been tried and determined. The applicant may withdraw the applicant’s application at any time before final decree, upon terms to be determined by the court. The court may in its discretion require the applicant who moves to withdraw the applicant’s application or to substitute some other person as applicant, to stipulate that the applicant shall be bound by the result of any issue of fact which has been tried and determined, and such stipulation shall bind the parties, their privies and the land itself.