Section 1109 - Sale of property(a) Sale by owner or lienholder.--If a property subject to conservatorship is sold by the owner or foreclosed upon by a lienholder or if any interest therein is transferred, such sale, foreclosure or transfer shall be subject to the conservatorship.(b) Sale by conservator.--Upon application of the conservator, the court may order the sale of the property if the court finds that: (1) Notice and an opportunity to provide comment to the court was given to each record owner of the property and each lienholder.(2) The conservator has been in control of the building for more than three months and the owner has not successfully petitioned to terminate the conservatorship under section 10. (3) The terms and conditions of the sale are acceptable to the court, and the buyer has a reasonable likelihood of maintaining the property.(c) Sale free and clear.--(1) The court may authorize the conservator to sell the building free and clear of all liens, claims and encumbrances, provided that the proceeds of the sale are distributed pursuant to subsection (d) at settlement.(2) In the event that the proceeds of the sale are insufficient to pay all existing liens, claims and encumbrances, the proceeds shall be distributed according to the priorities set forth in subsection (d) and all unpaid liens, claims or encumbrances which have not been assumed under section 8(d) shall be extinguished.(d) Distribution.--The proceeds of the sale shall be applied in accordance with the following priorities to:(2) Liens of the Commonwealth, liens for unpaid property taxes and properly recorded municipal liens.(3) Costs and expenses of sale.(4) Principal and interest on any borrowing or incurrence of indebtedness granted priority over existing liens and security interest under section 8(b).(4.1) Costs incurred by the petitioner in preparing and filing the petition in accordance with the requirements of section 4.(5) Costs of rehabilitation and any fees and expenses incurred by the conservator in connection with the sale or the safeguarding of the property for which the lien authorized under section (5)(g) was filed.(6) Valid liens and security interests in accordance with their priority.(7) Any unpaid obligations of the conservator. (8)[Deleted by 2014 Amendment.](e) Owner's proceeds as unclaimed property.-- In the event the owner cannot be located, any proceeds from the sale which belong to the owner shall be presumed to be abandoned and unclaimed and shall be subject to the custody and control of the Commonwealth pursuant to Article XIII.1 of the act of April 9, 1929 (P.L. 343, No. 176), known as The Fiscal Code.Amended by P.L. TBD 2014 No. 157, § 5, eff. 12/21/2014.2008, Nov. 26, P.L. 1672, No. 135, § 9, effective in 90 days [Feb. 24, 2009].