Section 141(5) in The Maharashtra Municipal Councils, Nagar Panchayats And Industrial Townships Act, 1965
(5)The surplus, if any, of the sale-proceeds shall be credited to the municipal fund, and may, on application made to the Chief Officer in writing within three years next after the sale, be paid to the person in whose possession the property was when seized, and if no such application is made, shall be the property of the Council.
