Acts heretofore done and rights to property transmitted to be valid
38.  Every such grant, conveyance, lease, assignment or bequest, sale, transfer or other act prior to 24 December 1875, made or done by or with any alien, and the right to all property derived by or through any alien prior to that date by succession, inheritance, transmission or otherwise, shall be deemed as valid and effectual to all intents and purposes as if it had been made, done or derived by, with or through a natural born British subject.