Effect of default

Effect of default.—

1. (1) In default of the payment of the purchase money within the period mentioned in section 143, the deposit (after defraying the expenses of the sale) shall 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.
2. (2) Every resale of immovable property in default of payment of the purchase money shall be made after the issue of a fresh notice in the manner prescribed for the original sale.