Power to sell unclaimed holding for money due.- If money be due under this Act in respect of any holding from the owner thereof, on account of any tax, expenses or charges recoverable under this Act and if the owner of such holding or his where about are unknown or the ownership thereof is disputed or when the owner lives outside the municipality and has failed to pay on spite of service of demand notice, twice the Board may publish twice at an interval of three months, a notification of sale of such holding and after the expiry of not less than three months from the date of the last publication, unless the amount recoverable be paid, may sell such holding to the highest bidder, who shall, at the time of sale, deposit forthwith twenty five percent of the purchase money. The balance shall be paid within fifteen days of the date of sale, in default the money if any, so deposited shall be forfeited and the holding shall be resold, and the shortage, if any may be recovered by the Board from the defaulter as arrears of municipal tax in the manner provided in this Act, After deducting the amount due to the Board aforesaid, the surplus sale proceeds, if any, shall be credited to the municipal fund and may be paid on demand to any person who established his right to the satisfaction of such Board or in a court of competent jurisdiction.Any person may pay the amount due, at any time before the completion of the sale and may recover such amount by a suit in a Court of competent jurisdiction from any person beneficially interested in such property.
