If the property sold, as provided in the above proceedings, be not redeemed within one year after the sale, said Director shall then issue to the party named in the original certificate, or his assignee, a deed of the property described in said certificate, which said deed shall refer, in general terms, to the proceedings under which the same is issued, and shall contain a description of the property, following the description in the certificate; the grantee in such deed is immediately upon receipt thereof entitled to possession of the property described therein.