7 GCA § 24421: Application of Proceeds of Sale of Encumbered Property.

The proceeds of the sale of encumbered property must be applied under the direction of the court, as follows:

1. To pay its just proportion of the general costs of the action;

2. To pay the costs of the reference;

3. To satisfy and cancel of record the several liens in their order of priority, by payment of the sums due and to become due; the amount due to be verified by affidavit at the time of payment;

4. The residue among the owners of the property sold, according to their respective shares therein.