Section 48

Where any court gives a judgment or makes an order directing the sale or mortgage of any land, every person who is entitled to or possessed of any interest in the land, or entitled to a contingent right therein, and is a party to the action or proceeding in which the judgment or order is given or made or is otherwise bound by the judgment or order, is deemed to be so entitled or possessed (as the case may be) as a trustee for the purposes of this Act.

The court may, if it thinks expedient, make an order vesting the land or any part of the land, for such estate or interest as the court thinks fit, in the purchaser or mortgagee or in any other person.