78B-6-1221. Lienholders required to exhaust other security first. Any party to the action, who holds a lien upon the property or any portion of it and has other securities for the payment of the amount of the lien may be required by the court to exhaust the other securities before a distribution of the proceeds […]
78B-6-1222. Distribution of proceeds or securities. The proceeds of sale and the securities taken by the referees shall be distributed by the referees to the persons entitled to them whenever the court directs. If no direction for distribution is given, all of the proceeds and securities must be paid into the court. Renumbered and Amended […]
78B-6-1223. Determination of adverse claims. When the proceeds of the sale of any share or parcel belonging to persons who are parties to the action, and who are known or unknown, are paid into court, the action may continue between the parties for the determination of their respective claims. Further evidence may be taken by […]
78B-6-1224. Sales at public auction — Notice. All sales of real property made by referees under this part shall be made at public auction to the highest bidder, upon notice published in the manner required for the sale of real property on execution. The notice shall state the terms of sale, and if the property […]
78B-6-1225. Sales on credit — Order for. The court shall, in the order of sale, direct the terms of credit which may be allowed for the purchase money of any portion of the premises. For that portion of which the purchase money is required, the court shall also order it to be invested for the […]
78B-6-1226. Security for payment. The referees may take separate mortgages and other securities; (1) for the whole or convenient portions of the purchase money; (2) on any part of the property directed by the court to be sold on credit; (3) for the shares of any known owner of full age, in the name of […]
78B-6-1227. Compensation for interest of tenant for life or years. A person entitled to a tenancy for life or years whose estate has been sold, is entitled to receive a sum as reasonable compensation for the estate. The person’s consent to accept the sum shall be filed in writing with the clerk of the court. […]
78B-6-1228. Court determines reasonable compensation for tenant. If consent is not given, filed, and entered as provided in Section 78B-6-1227 before a judgment of sale is rendered, the court shall determine what proportion of the proceeds of the sale, after deducting expenses, will be a just and reasonable sum to be allowed on account of […]
78B-6-1229. If tenant unknown. If persons entitled to the estate for life or years are unknown, the court shall provide for the protection of their rights in the same manner as if they were known and had appeared. Renumbered and Amended by Chapter 3, 2008 General Session
78B-6-1230. Protection of vested, contingent, or future rights. In all cases of sales if it appears that any person has a vested, contingent, or future right or estate in any of the property sold, the court shall ascertain and settle the proportionate value of the contingent or vested right or estate, and direct the proportion […]
78B-6-1231. Terms of sales — Separate sale of distinct parcels. In all cases of sales of property the terms shall be made known at the time, and if the premises consist of distinct farms or lots, they shall be sold separately. Renumbered and Amended by Chapter 3, 2008 General Session
78B-6-1232. Who may not be purchaser. (1) A referee or any person for the referee’s benefit may not be interested in any purchase. (2) A guardian of a minor party may not be interested in the purchase of any real property which is the subject of an action under this part except for the benefit […]
78B-6-1233. Report of referees to the courts of sales. (1) Once the sale of the property or any portion ordered to be sold is complete, the referees shall file a report with the court. (2) The report shall include: (a) a description of the different parcels of land sold to each purchaser; (b) the name […]
78B-6-1234. Referees’ deed on confirmation — Disposition of proceeds. If the sale is confirmed by the court, an order shall be entered directing the referees to execute conveyances and authorizing them to take securities pursuant to sale. The order may also give directions directing the disposition of the proceeds of the sale. Renumbered and Amended […]
78B-6-1235. Allowance on purchase price — When interested party is purchaser. If a party entitled to a share of the property, or a lienholder entitled to have his lien paid out of the sale, becomes a purchaser, the referees may take his receipt for so much of the proceeds of the sale as belongs to […]
78B-6-1236. Conveyance to be recorded — Operates as a bar. (1) The conveyances shall be recorded in the county where the property is located. (2) The recording shall be a bar against: (a) all persons interested in the property in any way, who have been named as parties in the action; (b) all parties or […]
78B-6-1237. Investment of sale proceeds for nonresidents or unknown parties. When there are proceeds of a sale belonging to an unknown owner or to a person outside the state who has no legal representative inside the state, the proceeds shall be invested in bonds of the United States, this state, or a political subdivision of […]
78B-6-1238. Clerk of court to be custodian. If the security of the proceeds of the sale is taken, or when an investment of any proceeds is made, it shall be done, except as otherwise provided, in the name of the clerk of the district court. The clerk of the court shall hold the security for […]
78B-6-1239. Distribution of securities to parties entitled. If security is taken by the referees on a sale, and the parties interested in the security, by an instrument in writing delivered to the referees, agree upon the shares and proportions to which they are respectively entitled, or when shares and proportions have been previously adjudged by […]
78B-6-1240. Investment of securities by court clerk — Accounting. The clerk of the court in whose name a security is taken or by whom an investment is made, and his successors in office, shall receive the interest and principal as it becomes due, and apply and invest the same as the court may direct. The […]
