Ark. Code § 18-50-109

Current with all legislation passed during the 2023 Regular and First Extraordinary Sessions.

Section 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.

Ark. Code § 18-50-109

Acts 1987, No. 53, § 9.