In a trustee's sale, the proceeds of the sale were sufficient to pay the demands of the first and second trust deed holders, foreclosure costs, and provide a small cash surplus. What is the priority schedule for the distribution of the cash proceeds?

Question

Quizplus · Accepted Answer

The priority schedule for distribution of the cash proceeds in a trustee's sale is generally as follows: first trust deed, second trust deed, foreclosure costs, and any remaining amount to the trustor. Therefore, the correct priority schedule is C) first trust deed; second trust deed; foreclosure costs; trustor.

In a Trustee's Sale, the Proceeds of the Sale Were