South Carolina Code 27-32-360. Disposition of proceeds of sale; costs and fees
(1) to the expenses of the sale, including compensation of the trustee and a reasonable fee by the person who conducted the sale, if applicable;
Terms Used In South Carolina Code 27-32-360
- Obligor: means either the mortgagor, the person obligated under a claim of lien, or the record owner of the timeshare estate as the context requires. See South Carolina Code 27-32-310
- Trustee: A person or institution holding and administering property in trust.
- Trustee: means any person entitled to exercise a power of sale. See South Carolina Code 27-32-310
(2) to the amount owed set forth in the notice as required by § 27-32-335;
(3) to all junior interest holders as their liens or interests may appear of record in the order of priority;
(4) the surplus, if any, to an obligor entitled to such surplus.
(B) In disposing of the proceeds of sale, the trustee may rely on the information provided in the public records as to the claims of junior interest holders and, in the event of a dispute or uncertainty over such claims, the trustee has the discretion to submit the matter to adjudication by court, by interpleader, or otherwise. All costs and fees, including attorney’s fees and costs, of adjudication must be paid out of the proceeds of sale after payment of the amounts required to be paid by items (1) and (2) of subsection (A).