Vesting of disclaimed leasehold: notice and election required from competing interest holders before Court may vest property and exclude interests. The Court may require under lessees, mortgagees, or holders of charges to be given notice and a fixed time to elect to accept and apply for a vesting order on terms the Court deems just; the Court may adjourn to add and serve such parties, permit their election and application, and if they fail to do so, order vesting of the leasehold in the applicant or another person and exclude non electing parties from all interest or security in the property.