Section 1226 – Security for payment.

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 the owner;

• (4) for the shares of a minor, in the name of the guardian of the minor; and

• (5) for other shares, in the name of the clerk of the court and his successors in office.

Renumbered and Amended by Chapter 3, 2008 General Session