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Titles to Land Consolidation (Scotland) Act 1868

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122 Creditors selling to count and reckon for the surplus of the price and to consign the same in the bank. E+W+S+N.I.

The creditor, upon receipt of the price, shall be bound to hold count and reckoning therefor with the debtor and postponed creditors, if any such there be, or with any other party having interest, and to consign the surplus which may remain, after deducting the debt secured, with the interest due thereon and penalties incurred and expenses in reference to the possession of the estate if such creditor has been in possession, including expense of insurance, repairs, and management, and whole expenses attending such sale, and after paying all previous incumbrances and the expense of discharging the same, in one or other of the said banks, or in a branch of any such bank, in the joint names of the seller and purchaser, for behoof of the party or parties having best right thereto; and the particular bank in which such consignation is to be made shall be specified in the articles of roup.

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