Western Australian Current Acts

TRANSFER OF LAND ACT 1893 - SECT 120

120 .         Application of moneys obtained by mortgagee in action

                Any money received by a mortgagee or his transferee under any proceeding commenced in his name at law or in equity shall after payment by thereout of his costs be applied in reduction or satisfaction of the moneys secured and subject thereto shall be disposed of according to the equities of the parties interested.