§667-10  Power unaffected by transfer;
surplus after sale.  No sale or transfer by the mortgagor shall impair or
annul any right or power of attorney given in the mortgage to the mortgagee to
sell or transfer the mortgaged property, as attorney or agent of the mortgagor,
except as otherwise provided by chapters 501 and 502.  When public sale is made
of the mortgaged property under this chapter, the remainder of the proceeds, if
any, shall be paid over to the owner of the mortgaged property, after deducting
the amount of claim and all expenses attending the same. [L 1874, c 33, §4; RL
1925, §2883; RL 1935, §4728; RL 1945, §12428; RL 1955, §336-9; HRS §667-10; am
L 1972, c 90, §9(i), (j)]



 



Case Notes



 



  Surplus:  Upon foreclosure sale after death of mortgagor
surplus goes to administrator if required to pay debts.  17 H. 453 (prior to
enactment of §531-14).  Mortgagor can recover surplus from first mortgagee when
second mortgagee not a party to the action.  18 H. 352.



  Owner of mortgaged property had right to surplus proceeds. 
71 H. 204, 787 P.2d 674.