If there are several mortgages of equal rank or if separate amounts due to distinct persons are embraced in the same mortgage and one mortgagee forecloses, the court will control the proceeds of the sale for distribution to the several mortgagees according to their claims.
History. Orig. Code 1863, § 1968; Code 1868, § 1956; Code 1873, § 1966; Code 1882, § 1966; Civil Code 1895, § 2740; Civil Code 1910, § 3273; Code 1933, § 67-122.
History of Section.
This Code section is derived in part from the decision in Bass v. West Point Whsle. Grocery Co., 5 Ga. App. 746 , 62 S.E. 1004 (1908).