(a) The levying officer shall distribute the proceeds of sale of a homestead in the following order:

(1) To the discharge of all liens and encumbrances, if any, on the property.

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Terms Used In California Code of Civil Procedure 704.850

  • creditor: means the state or the department or agency of the state seeking to collect the liability. See California Code of Civil Procedure 688.040
  • debtor: means the debtor from whom the liability is sought to be collected. See California Code of Civil Procedure 688.040
  • Homestead: means the principal dwelling (1) in which the judgment debtor or the judgment debtor's spouse resided on the date the judgment creditor's lien attached to the dwelling, and (2) in which the judgment debtor or the judgment debtor's spouse resided continuously thereafter until the date of the court determination that the dwelling is a homestead. See California Code of Civil Procedure 704.710
  • Property: includes both personal and real property. See California Code of Civil Procedure 17
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.
  • Writ: means an order or precept in writing, issued in the name of the people, or of a court or judicial officer. See California Code of Civil Procedure 17

(2) To the judgment debtor in the amount of any applicable exemption of proceeds pursuant to Section 704.720.

(3) To the levying officer for the reimbursement of the levying officer’s costs for which an advance has not been made.

(4) To the judgment creditor to satisfy the following:

(A) First, costs and interest accruing after issuance of the writ pursuant to which the sale is conducted.

(B) Second, the amount due on the judgment with costs and interest, as entered on the writ.

(5) To the judgment debtor in the amount remaining.

(b) Sections 701.820 and 701.830 apply to distribution of proceeds under this section.

(Added by Stats. 1982, Ch. 1364, Sec. 2. Operative July 1, 1983, by Sec. 3 of Ch. 1364.)

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