173. Insurance money.

173.     Insurance money.

All money received on an insurance of the mortgaged property effected under the Law of Property Act 1925, or for the maintenance of which the mortgagor is liable under the mortgage deed, must, if the mortgagee so requires, be applied by the mortgagor in making good the loss or damage in respect of which the money is received1. Upon the request of any person interested in or entitled to any house or other building burnt down or damaged by fire, the insurance office must apply the insurance money in reinstatement or repair2, and it