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Current as of January 01, 2025 | Updated by Findlaw Staff
§ 4-227. Remnants. Any portion of the sum so paid by the sheriff to the clerk, or of a deposit remaining after such distribution as hereinabove provided, shall be denominated remnants and surplus proceeds, and where any claim or complaint is filed against the same as provided in Part 2 of Article IV of this Act, distribution shall be directed by the court after judgment upon motion and notice, as provided in Section 4-226 of this Act, and after the following order:
First--All costs upon claims passing into judgment which were filed after distribution.
Second--All other liens enforceable under Part 2 of Article IV of this Act against the water craft prior to distribution.
Third--All claims upon mortgages of such water craft or other incumbrances by the owner, in proportion to the interest they cover and priority.
Fourth--Upon petition of the creditor, all judgments against the owner, and which ought equitably to be paid out of the proceeds in preference to the owner.
Fifth--The owner.
Cite this article: FindLaw.com - Illinois Statutes Chapter 735. Civil Procedure § 5/4-227. Remnants - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-735-civil-procedure/il-st-sect-735-5-4-227/
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