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On sale of settled land purchase-money may be applied to redemption of certain terminable charges.
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18. When any land, being settled land within the meaning of the Settled Land Act, 1882, is sold under the Land Purchase Acts, as amended by this Act, and such land is subject to any instalment mortgage created under the provisions of the fifty-second section of the Irish Church Act, 1869, or to any land improvement charge or drainage charge, or to any instalments or annuity payable in respect of the purchase of any tithe rentcharge, under the Irish Church Act, 1869, or the Irish Church Amendment Act, 1872, it shall be lawful for the trustees of such settled land, or other person to whom the purchase-money thereof is payable, to apply the same in the redemption of any such instalment mortgage, charge, instalments, or annuity, as aforesaid, or such part of same as may at the time of such sale be apportioned in respect of the land sold.
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