sec.63OApplication of proceeds of sale

sec.63O Application of proceeds of sale

The proceeds of the sale of land sold under the order must be applied as follows— first, in payment of the commissioner’s expenses on the application to the court for the order; second, in payment of expenses properly incurred by the commissioner on the sale or any attempted sale; third, in payment of the outstanding liability under the Administration Act , section 42 ; fourth, in payment of amounts secured by a security interest or charge on the land recorded before the charge mentioned in section 63M (1) (a) , unless the land is sold subject to the security interest or charge; fifth, any balance must be applied as the court orders. s 63O ins 2025 No. 15 s 14

• (a) first, in payment of the commissioner’s expenses on the application to the court for the order;
• (b) second, in payment of expenses properly incurred by the commissioner on the sale or any attempted sale;
• (c) third, in payment of the outstanding liability under the Administration Act , section 42 ;
• (d) fourth, in payment of amounts secured by a security interest or charge on the land recorded before the charge mentioned in section 63M (1) (a) , unless the land is sold subject to the security interest or charge;
• (e) fifth, any balance must be applied as the court orders.