If the person entitled to lands subject to a proceeding filed pursuant to § 55.1-1419 at the time of reentry made, or having claim to such lands, does not pay the rent and all arrears owed, with interest and all reasonable expenses incurred about such reentry, within one year from the first day of publication pursuant to § 55.1-1425, he shall be forever barred from all right to the lands. If any party who has the right of possession pays the rent and arrears owed, with interest and expenses pursuant to this section, to the party making reentry, within the required time, he shall be reinstated in his possession to hold as if the reentry had not been made.