§ 44A-5. Proceeds of sale. - North Carolina Statutes

§44A‑5.  Proceeds of sale.

The proceeds of the sale shallbe applied as follows:

(1)        Payment ofreasonable expenses incurred in connection with the sale. Expenses of saleinclude but are not limited to reasonable storage and boarding expenses aftergiving notice of sale.

(2)        Payment of theobligation secured by the lien.

(3)        Any surplus shall bepaid to the person entitled thereto; but when such person cannot be found, thesurplus shall be paid to the clerk of superior court of the county in which thesale took place, to be held by the clerk for the person entitled thereto. (1967,c. 1029, s. 1; 1971, c. 544, s. 2.)