27. Application of moneys arising from sales
Feedback & supportThe moneys or part of the moneys to be received on any sale effected under this Act, or the rents or payments reserved under any lease or any part of such rents or payments, may be paid to any trustees of whom the judge approves, or the same may be ordered to be paid into court; and such moneys, rents or payments or any part thereof may be applied as the judge from time to time directs to any of the following purposes:
judge
“judge” means a Judge sitting in chambers in the General Division of the High Court;
the discharge or redemption of any incumbrance affecting the immovable property in respect of which such money was paid, or affecting any other immovable property subject to the same settlement;
settlement
“settlement” means any statute, deed, agreement, will or other instrument, or any number of such instruments, under or by virtue of which any immovable property, or any estates or interests therein, stand limited to, or in trust for, any person or persons, by way of succession, including any such instruments affecting the estates of any one or more of such persons exclusively.
the permanent improvement of any immovable property subject to such settlement;
the purchase of other immovable property to be settled in the same manner as the immovable property in respect of which the money was paid;
the payment to any person becoming absolutely entitled.