sec.139How lessor deals with proceeds of sale

### sec.139 How lessor deals with proceeds of sale This section applies if, under section 138 , a lessor sells a mortgaged lease. The lessor must apply the proceeds of the sale, under the Property Law Act 2023 , as if the lease were sold by the mortgagee and the amount of the sale were received by the mortgagee. However, in applying the proceeds of the sale, the lessor must firstly apply the proceeds to the payment of all costs, charges and expenses properly incurred by the lessor for the sale or any attempted sale. s 139 ins 2008 No. 29 s 87 sub 2011 No. 26 s 166 amd 2023 No. 27 s 289 sch 3 (sec.139-ssec.1) This section applies if, under section 138 , a lessor sells a mortgaged lease. (sec.139-ssec.2) The lessor must apply the proceeds of the sale, under the Property Law Act 2023 , as if the lease were sold by the mortgagee and the amount of the sale were received by the mortgagee. (sec.139-ssec.3) However, in applying the proceeds of the sale, the lessor must firstly apply the proceeds to the payment of all costs, charges and expenses properly incurred by the lessor for the sale or any attempted sale.