33-725. Judgment of foreclosure; contents; sale
of property; resale
A. When a mortgage or deed of trust is foreclosed, the court shall give judgment
for the entire amount determined due, and shall direct the mortgaged property, or as much
thereof as is necessary to satisfy the judgment, to be sold.
B. Judgments for the foreclosure of mortgages and other liens shall provide that
the plaintiff recover his debt, damages and costs, with a foreclosure of the plaintiff's
lien on the property subject to the lien, and, except in judgments against executors,
administrators and guardians, that a special execution issue to the sheriff or any
constable of the county where the property is located, directing him to seize and sell
the property as under execution, in satisfaction of the judgment. If the property cannot
be found, or if the proceeds of the sale are insufficient to satisfy the judgment, then
if so ordered by the court the sheriff shall take the money or any balance thereof
remaining unpaid out of any other property of the defendant except as provided in
sections 33-729 and 33-730. All execution upon judgments for foreclosure of a mortgage
or deed of trust upon real property shall comply with section 12-1566. Any sale of real
property to satisfy a judgment under this section or section 33-814 shall be a credit on
the judgment in the amount of either the fair market value of the real property or the
sale price of the real property at sheriff's sale, whichever is greater, in accordance
with section 12-1566.
C. If the debt for which the lien is held is not all due, as soon as enough of the
property is sold to pay the amount due, with costs, the sale shall cease, and afterward
as often as more becomes due for principal and interest, the court may, on motion, order
more property sold. If the property cannot be sold in portions without injury to the
parties, the whole may be ordered sold in the first instance and the entire debt and
costs paid, allowing a rebate of interest where proper.
|