Utah Code 78B-6-1220. Proceeds of sale of encumbered property — Disposition of
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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;
Terms Used In Utah Code 78B-6-1220
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Property: includes both real and personal property. See Utah Code 68-3-12.5
(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.