Arkansas § 18-50-109 Disposition of proceeds of sale

Arkansas Statutes

§ 18-50-109 — Disposition of proceeds of sale

The trustee or mortgagee shall apply the proceeds of the sale as follows:

(1)To the expenses of the sale, including compensation of the trustee or mortgagee and a reasonable fee by the attorney;

(2)To the indebtedness owed;

(3)To all persons having recorded liens subsequent to the interest of the trustee or mortgagee as their interests may appear in the order of the priority; and (4) The surplus, if any, to the grantor of the trust deed or to the successor in interest of the grantor entitled to the surplus.

Free access — add to your briefcase to read the full text and ask questions with AI

The trustee or mortgagee shall apply the proceeds of the sale as follows: (1) To the expenses of the sale, including compensation of the trustee or mortgagee and a reasonable fee by the attorney; (2) To the indebtedness owed; (3) To all persons having recorded liens subsequent to the interest of the trustee or mortgagee as their interests may appear in the order of the priority; and (4) The surplus, if any, to the grantor of the trust deed or to the successor in interest of the grantor entitled to the surplus.

Arkansas § 18-50-109 (Disposition of proceeds of sale) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.