Maine Revised Statutes Title 24-A Sec. 3032 – Application of amount recovered
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Terms Used In Maine Revised Statutes Title 24-A Sec. 3032
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
- Plaintiff: The person who files the complaint in a civil lawsuit.
The amount recovered under section 3031 shall be applied first to the payment of the costs of the civil action and officer’s fees on the execution and next to the payment of the amount due on the mortgage. The balance, if any, shall be retained by the insurer and paid to the mortgagor. If the insurer assumes the defense, it shall be liable to the plaintiff for costs in the same manner as the principal defendant, defending the action, would be. [PL 1969, c. 132, §1 (NEW).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW).