New Hampshire Revised Statutes 528:9 – Proceeds of Sale
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Terms Used In New Hampshire Revised Statutes 528:9
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Personal property: All property that is not real property.
The proceeds of any sale conducted under this chapter of personal property subject to mortgage, pledge, security interest or lien shall first be applied to pay the sum paid or tendered to the mortgagee, pledgee, secured party or holder for satisfaction of the debt or debts secured by any such mortgage, pledge, security interest or lien and interest thereon and the balance, if any, shall be applied by the officer conducting any such sale in accordance with N.H. Rev. Stat. § 528:4.