Application of compensation Application of compensation
And with respect to the purchase money or compensation coming to parties having limited interests, or prevented from treating, or not making title, be it enacted as follows:
- 69†Purchase money payable to parties under disability, amounting to 200l. to be deposited in the Bank.
- 70Order for application, and investment meanwhile.
- 71Sums from 20l. to 200l. to be deposited, or paid to trustees.
- 72Sums not exceeding 20l. to be paid to parties.
- 73All sums payable under contract with persons not absolutely entitled, to be paid into Bank.
- 74Court of Chancery may direct application of money in respect of leases or reversions as they may think just.
- 75Upon deposit being made, the owners of the lands to convey, or in default the lands to vest in the promoters of the undertaking upon a deed poll being executed.
- 76Where parties refuse to convey, or do not show title, or cannot be found, the purchase money to be deposited.
- 77Upon deposit being made a receipt to be given, and the lands to vest upon a deed poll being executed.
- 78Application of monies so deposited.
- 79Party in possession to be deemed the owner.
- 80Costs in cases of money deposited.