§ 15-19-35 — Application of proceeds of sale.

Every officer or person who conducts an execution sale shall apply the proceeds of such sale: (1) To the payment of the costs and expenses of the sale, including any actual out-of-pocket expenses and reasonable costs incurred by a sheriff; (2) To the satisfaction of the execution under which the sale is made; (3) To the satisfaction of any other execution in the officer's or person's hands, to which such proceeds may be lawfully applied; (4) To pay the surplus, if any, to the defendant, or into court for the use of the defendant or the person entitled thereto, subject to the order of the court. If such surplus or any part thereof remains in the court for the term of three months without being applied for, the court may direct the same to be put out at interest for the benefit of the defendant, the defendant's representatives, or assigns, subject to the order of the court.

Legislative History

SDC 1939 & Supp 1960, § 33.2016; SL 2007, ch 129, § 2.