Section 145: Forfeiture of deposit

145. Forfeiture of deposit (1) Where, on the day when the biddings are re-opened— (a) the outbidder does not appear; or (b) the outbidder appears, but does not fulfil the conditions of sale and the property remains finally adjudicated to the original adjudicatee for the original price, S3 – 33 [Issue 1] Sale of Immovable Property Act the outbidder shall forfeit the amount of his deposit and, in addition, be liable, at the suit of an interested party, for the difference between the price of adjudication and the amount of his outbidding. (2) The deposit forfeited under subsection (1) shall, after deducting from it the costs of the outbidding, be added to, and form part of, the sale price of the property.