On payment of the purchase money, the officer holding the sale shall grant a receipt for the same, and the sale shall become absolute as against all persons whomsoever.

Mode of payment when sale is subject to confirmation Mode of payment when sale is subject to confirmation. —

1. (1) When a sale is subject to confirmation, the party who is declared to be the purchaser shall be required to deposit immediately twenty-five per centum of the amount of his bid, and in default of such deposit the property shall forthwith be again put up and sold.
2. (2) The full amount of purchase money shall be paid by the purchaser before the expiration of the fifteenth day after the day on which the sale of the property became final.
3. (3) In default of payment within the prescribed period, the deposit, after defraying therefrom the expenses of the sale, shall be liable to be forfeited to the Government and the property shall be resold and the defaulting purchaser shall forfeit all claims to the property or to any part of the sum for which it may subsequently be sold.