Utah § 78B-6-1220 Proceeds of sale of encumbered property -- Disposition of.

Utah Statutes

§ 78B-6-1220 — Proceeds of sale of encumbered property -- Disposition of.

Utah·Title 78B Judicial Code·Ch. 78B-6 Particular Proceedings·Part 78B-6-12 Partition

The proceeds of the sale of encumbered property shall 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 all recorded liens in their order of 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 shall 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 all recorded liens in their order of 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.

Utah § 78B-6-1220 (Proceeds of sale of encumbered property -- Disposition of.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.