Failure to make deposit

Failure to make deposit.—(1) In default of payment within the prescribed time of the balance of the purchase money, the deposit made under section 174 shall, after defraying the expenses of sale, be forfeited to the State Government and the property shall be resold.

1. (2) The defaulting purchaser shall forfeit all claims to the property or to any part of the sum for which it may subsequently be sold.