Street, Drainage and Building Act 1974 · s 108

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s 108Application of proceeds

(1)

The proceeds of a sale under subsection 106(1) shall be applied in the first place in satisfaction of the arrears together with interest thereon at the rate of six per centum per annum and costs.

Street, Drainage and Building 135

(2)

In the event of there being any surplus remaining the local authority shall, if satisfied as to the right of any person claiming such surplus, pay the amount thereof to such person or, if not so satisfied, shall hold the amount in trust for the person who may ultimately succeed in due course of law in establishing his title thereto.

(3)

If no title is established to such surplus within a period of two years from the date of the sale, it shall be paid into the Improvement

Service Fund of the local authority.