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All real property purchased by any trust company or acquired by it in settlement of debts due it, shall be conveyed to it directly by name and the conveyance recorded in the office of the proper recording officer of the place in which such real property is located. Every parcel of real estate purchased or acquired by any trust company shall be sold by it within five (5) years of the date on which it shall have been acquired unless there shall be a building thereon occupied by the trust company as an office. History —Apr. 23, 1928, No. 40, p. 234, § 13, eff. 90 days after Apr. 23, 1928.