§ 18-50-109 - Disposition of proceeds of sale. - Arkansas Statutes

18-50-109. Disposition of proceeds of sale.

The trustee or mortgagee shall apply the proceeds of the sale as follows:

(1) To the expenses of the sale, including compensation of the trustee or mortgagee and a reasonable fee by the attorney;

(2) To the indebtedness owed;

(3) To all persons having recorded liens subsequent to the interest of the trustee or mortgagee as their interests may appear in the order of the priority; and

(4) The surplus, if any, to the grantor of the trust deed or to the successor in interest of the grantor entitled to the surplus.