Illinois Compiled Statutes 735 ILCS 5/4-227 – Remnants
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Any portion of the sum so paid by the sheriff to the clerk, or of a deposit remaining after such distribution as hereinabove provided, shall be denominated remnants and surplus proceeds, and where any claim or complaint is filed against the same as provided in Part 2 of Article IV of this Act, distribution shall be directed by the court after judgment upon motion and notice, as provided in Section 4-226 of this Act, and after the following order:
First – All costs upon claims passing into judgment which were filed after distribution.
Second – All other liens enforceable under Part 2 of Article IV of this Act against the water craft prior to distribution.
Third – All claims upon mortgages of such water craft or other incumbrances by the owner, in proportion to the interest they cover and priority.
Fourth – Upon petition of the creditor, all judgments against the owner, and which ought equitably to be paid out of the proceeds in preference to the owner.
Fifth – The owner.
First – All costs upon claims passing into judgment which were filed after distribution.
Terms Used In Illinois Compiled Statutes 735 ILCS 5/4-227
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
Second – All other liens enforceable under Part 2 of Article IV of this Act against the water craft prior to distribution.
Third – All claims upon mortgages of such water craft or other incumbrances by the owner, in proportion to the interest they cover and priority.
Fourth – Upon petition of the creditor, all judgments against the owner, and which ought equitably to be paid out of the proceeds in preference to the owner.
Fifth – The owner.