South Dakota § 21-45-51 Application of proceeds of sale of encumbered property.

South Dakota Statutes

§ 21-45-51 — Application of proceeds of sale of encumbered property.

South Dakota·Title 21 JUDICIAL REMEDIES·Ch. 21-45 PARTITION AND SALE OF REAL ESTATE

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 or priority, by payment of the sums due and to become due; 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 or priority, by payment of the sums due and to become due; 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.

South Dakota § 21-45-51 (Application of proceeds of sale of encumbered property.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.