§ 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 […]
§ 18-50-111. Form and effect of trustee’s or mortgagee’s deed
(a) (1) The trustee’s or mortgagee’s deed shall contain recitals of compliance with the requirements of this chapter relating to the exercise of the power of sale and sale of the trust property, including recitals concerning mailing and publication of notice of default and intention to sell and the conduct of the sale. (2) Upon […]
§ 18-50-112. Deficiency judgment
(a) (1) At any time within twelve (12) months after a sale under this chapter, a money judgment may be sought for the balance due upon the obligation for which a mortgage or deed of trust was given as security. (2) In such action, the plaintiff shall set forth in his or her complaint, and […]
§ 18-50-113. Request for notice
(a) At any time subsequent to the recordation of a mortgage or deed of trust and prior to a recording of a notice of default and intention to sell under the mortgage or deed, any person desiring a copy of any such notice may file for record with the recorder of the county where the […]
§ 18-50-114. Reinstatement of mortgage or deed of trust
(a) (1) Whenever all or a portion of the principal sum of any obligation secured by a mortgage or deed of trust, prior to the maturity date fixed in such obligation, has become due or has been declared due by reason of a breach or default in the performance of any obligation secured by the […]
§ 18-50-115. Implied powers in mortgages
(a) (1) Subject to the provisions of § 18-50-114 and notwithstanding the terms of the mortgage, a power of sale is implied in every mortgage of real property situated in this state that is duly acknowledged and recorded. (2) The exercise of the implied power of sale shall be pursuant to the provisions of this […]
§ 18-49-105. Proceeds of sale insufficient
If the whole of mortgaged property does not sell for a sum sufficient to satisfy the amount due, an execution may be issued against the defendant as on ordinary judgments.
§ 18-50-116. Miscellaneous provisions
(a) The procedures set forth in this chapter for the foreclosure of a mortgage or deed of trust shall not impair or otherwise affect the right to bring a judicial action to foreclose a mortgage or deed of trust. (b) A notice of default and intention to sell shall be filed within the time the […]
§ 18-49-106. Redemption of real property
(a) (1) In all cases where real property is sold under an order or decree of the circuit court or a court exercising circuit jurisdiction in the foreclosure of mortgages and deeds of trust, the mortgagor or his or her heirs or legal representatives shall have the right to redeem the property so sold. (2) […]
§ 18-50-117. Foreign corporations and other entities
No person, firm, company, association, fiduciary, or partnership, either domestic or foreign, shall avail themselves of the procedures under this chapter unless authorized to do business in this state.