South Australian Current Acts South Australian Current Acts76—Payment and application of moneys arising from settled land
All moneys to be received on any sale effected under the authority of this
Part, when the property sold is settled land, may, if the court shall think
fit be paid to any trustees of whom it shall approve, or otherwise the same
shall be paid into court, and such money shall be applied as the court shall
from time to time direct to some one or more of the following purposes,
namely:
(a) The
discharge or redemption of any incumbrance affecting the hereditaments in
respect of which such money was paid, or affecting any other hereditaments,
subject to the same uses as trusts; or
(b) The
purchase of other hereditaments to be settled in the same manner as
hereditaments in respect of which the money was paid; or
(c) The
payment to any person becoming absolutely entitled.