Any and all deeds purported to have been executed or which have been executed by guardians of an insane or other incompetent person subsequent to March 1, 1888, and which have been recorded in the office of the register of deeds in any county of the state, purporting to convey any real estate shall be deemed to be valid notwithstanding any defects in execution, acknowledgment, certificate of acknowledgment, recording, certificate of recording, or any defects in the proceedings in the district court for authority to execute such deed or any lack of authority from the district court for the execution and delivery of such deed. This act shall not apply to any such deed which has not been recorded in the office of the register of deeds in the county in which the land is situated at least forty (40) years prior to the taking effect of this act. Any person desiring to present proof of the invalidity or partial invalidity of any such deed shall have one year after the effective date of this act within which to bring proceedings attacking any such deed.