1246. Application of price or compensation received by landlord.

Any sum received by the landlord1 by way of the price payable2 for a house3 and premises4, or by way of compensation under any provision5 providing for compensation to be recovered by or awarded to a landlord6:

  1.  

    (1)     where the landlord's interest is subject to a trust of land, must be dealt with as if it were proceeds of sale arising under the trust; and