45-1507 PROCEEDS OF SALE -- DISPOSITION.
LIENS, MORTGAGES AND PLEDGES
CHAPTER 15
TRUST DEEDS
45-1507. Proceeds of sale -- Disposition. The trustee shall apply the proceeds of the trustee’s sale as follows:
(1) To the expenses of the sale, including a reasonable charge by the trustee and a reasonable attorney’s fee.
(2) To the obligation secured by the trust deed.
(3) To any persons having recorded liens subsequent to the interest of the trustee in the trust deed as their interests may appear.
(4) The surplus, if any, to the grantor of the trust deed or to his successor in interest entitled to such surplus.