Disposition of proceeds.
Section 258
SEC. 258. Disposition of proceeds. — The money arising from the sale of mortgaged property, under the regulations hereinbefore prescribed, shall, after deduction of costs of sale, be paid to the person foreclosing the mortgage, and when there shall be any surplus, after paying off such mortgage or other incumbrance, the same shall be paid to junior incumbrancers in the order of their priority, to be ascertained by the court, or if there be no such incumbrances or there be a surplus after payment of such incumbrances, then to the mortgagor or his agent, or to the person entitled to it.