Notwithstanding the provisions of § 5.06 of Article 66B, Annotated Code of Maryland, or of any similar public local law or ordinance, every deed executed or recorded before June 1, 1974, conveying land in a subdivision a plat of which had not been approved by a planning commission is fully valid and effective according to its terms if the deed would have been valid and effective but for the provisions of § 5.06, as enacted by § 1 of Chapter 672, Acts of 1970, or a similar public local law or ordinance.