P.R. Laws tit. 30, § 2726

2019-02-20 00:00:00+00
§ 2726. Summary procedure—Confirmation of sale; disposition of auction price

If the sale is confirmed as provided in § 2725 of this title, the auction price shall be assigned without delay to the payment of the claimant’s mortgage loan; the remainder shall be deposited by the marshal in the Office of the Clerk of the Court so that the court may resolve what is in order regarding subsequent creditors, following the order or rank each of them has with respect to the foreclosed loan, and if there is no subsequent credit or liability whatsoever, or if there is they have been taken care of, the remainder, if any, shall be given to the debtor or third owner.

History —Mortgage Law, 1979, § 226.