Singapore legislation
Section 57
Section 57
Application of proceeds of sale
(1)
The proceeds of a sale under section 55(1) and (2) must be applied firstly in satisfaction of the arrears together with interest on the arrears at the prescribed rate and costs.
(2)
Where there is any surplus remaining, the Director‑General must —
(a)
if satisfied as to the right of any person claiming the surplus — pay the amount of the surplus to that person; or
(b)
if not so satisfied — hold the amount in trust for the person who may ultimately succeed in due course of law in establishing the person’s title to the surplus.
(3)
If no title is established to the surplus within a period of 5 years from the date of the sale, it must be paid into the Consolidated Fund.