Retirement Villages Act 1986

first, in payment of the costs incurred in—

applying for and obtaining the order for enforcing the charge; and

selling the land charged; and

executing the order;

secondly, in payment of encumbrances which rank before the charge in priority unless the sale is subject to those encumbrances;

thirdly, in making the payments to the residents that the residents are entitled to be paid out of the proceeds of the sale of the land charged, having regard to the amount of each resident's repayable entry payment and the proportion which it bears to the total amount of repayable entry payments secured by the charge;

fourthly, in payment of encumbrances which rank after the charge in priority;

fifthly, in payments to the person who owned the land charged immediately before an order was applied for.