§ 10-5-28 - Proceeds of sale of mortgaged property. - Rhode Island Statutes

SECTION 10-5-28

   § 10-5-28  Proceeds of sale of mortgagedproperty. – Upon any sale as provided in § 10-5-27, the attaching officer shall firstapply so much of the proceeds of the sale as may be necessary to pay the amountfor which the property was mortgaged, with such deduction for interest for theanticipated payment, or allowance for damages for the anticipated payment, asmay be allowed by the justice directing the sale; and the officer shall payonly the balance into the registry of the court for the purposes of theattachment.