North Dakota § 32-16-20 How proceeds of encumbered property applied

North Dakota Statutes

§ 32-16-20 — How proceeds of encumbered property applied

North Dakota·Title 32 Judicial Remedies·Ch. 32-16 Action for Partition of Real Property

The proceeds of the sale of encumbered property must be applied under the direction of the court as follows:

1.To pay its just proportion of the general costs of the action.

2.To pay the costs of the reference.

3.To satisfy and cancel of record the several liens in their order of priority, by payment of the sums due and to become due, and the amount due to be verified by affidavit at the time of payment.

4.The residue among the owners of the property sold, according to their respective shares therein.

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The proceeds of the sale of encumbered property must be applied under the direction of the
court as follows:
1. To pay its just proportion of the general costs of the action.

2. To pay the costs of the reference.
3. To satisfy and cancel of record the several liens in their order of priority, by payment of
the sums due and to become due, and the amount due to be verified by affidavit at the
time of payment.
4. The residue among the owners of the property sold, according to their respective
shares therein.

North Dakota § 32-16-20 (How proceeds of encumbered property applied) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.