If any money is due under this Act from the owner of any land or building on account of the tax on lands and buildings or any other tax, expenses or charges recoverable under this Act, and if the owner of such land or building is unknown or the ownership thereof is disputed, the Chief Officer of the Municipality may, publish twice, at an interval of not less than thirty days, a notification of such dues and of sale of such land or building for realisation thereof and after the expiry of not less than fifteen days from the date of last publication of such notification, unless the amount recoverable is paid, may sell such land or building by public auction to the highest bidder, who shall deposit, at the time of sale, the entire purchase money. Such notification shall be published in the Official Gazette and in local newspapers and by displaying on the land or the building concerned.
(2) After deducting the amount due to the Municipality as aforesaid, the surplus sale proceeds, if any, shall be credited to the Municipal Fund of the Municipality and may be paid, on demand, to any person who establishes his right thereto, to the satisfaction of the court of competent jurisdiction.
(3) Any person may, pay the amount due at any time before the completion of the sale, whereupon the sale shall be abandoned and such person may recover such amount by a suit in a court of competent jurisdiction from any person beneficially interested in such land or building.
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