|Passed by the House March 3, 2009|
Speaker of the House of Representatives
Passed by the Senate April 8, 2009
President of the Senate
I, Barbara Baker, Chief Clerk of the House of Representatives of the State of Washington, do hereby certify that the attached is HOUSE BILL 1826 as passed by the House of Representatives and the Senate on the dates hereon set forth.
Governor of the State of Washington
Secretary of State
State of Washington
|State of Washington||61st Legislature||2009 Regular Session|
Read first time 01/30/09. Referred to Committee on Judiciary.
AN ACT Relating to the proceeds from foreclosure sales; and amending RCW 61.12.150.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1 RCW 61.12.150 and Code 1881 s 617 are each amended to read
If the mortgaged premises cannot be sold in parcels, the court shall order the whole to be sold, and the proceeds of the sale shall be applied first to the payment of the principal due, interest and costs, and then to the residue secured by the mortgage and not due; and if the residue does not bear interest, a deduction shall be made therefrom by discounting the legal interest((
; and)). In all cases where the
proceeds of the sale (( shall be)) are more than sufficient to pay the
amount due and costs, the surplus shall be applied to all interests in,
or liens or claims of liens against, the property eliminated by sale
under this section in the order of priority that the interest, lien, or
claim attached to the property. Any remaining surplus shall be paid to
the mortgage debtor, his or her heirs and assigns.