38-1a-704. Sale of property -- Redemption -- Disposition of proceeds.
138 words·~1 min read·
/ut/title-38/chapter-1a/38-1a-704·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
38-1a-704. Sale of property -- Redemption -- Disposition of proceeds.
(1)The court shall cause the property to be sold in satisfaction of the liens and costs as in the case of a foreclosure of a mortgage, subject to the same right of redemption.
(2)If the proceeds of sale after the payment of costs are not sufficient to satisfy the whole amount of liens included in the decree, then the proceeds shall be paid in the order designated in Section 38-1a-703 , and pro rata to the persons claiming in each class if the sum realized is insufficient to pay the persons of the class in full.
(3)Any excess sale proceeds remaining after the payment of all liens and costs shall be paid to the owner.
Renumbered and Amended by Chapter 278 , 2012 General Session