WVC 38 - 1 - 7
§38-1-7. Application of proceeds; action to recover a deficiency.
(a) The trustee shall apply the proceeds of sale, first to the
payment of expenses attending the execution of the trust, including
a commission to the trustee of five percent on the first $300, and
two percent on the residue of the proceeds, and shall apply the
balance of such proceeds pro rata, or in the order of priority, if
any, prescribed by the trust deed, to the payment of the debts
secured and the indemnity of the sureties indemnified by the deed,
and shall pay the surplus, if any, to the grantor, his, her or its
heirs, personal representatives, successors or assigns, as their
interests may appear.
(b) A trust deed grantor, the obligor on the debt secured by
the deed of trust, including any maker, comaker, guarantor, surety
or other accommodation party, or other defendant in a civil action
seeking a deficiency judgment on the debt secured by the deed of
trust, may not assert as a defense that the fair market value of
secured real property was not obtained at a trust deed foreclosure
sale conducted in accordance with this article.
Note: WV Code updated with legislation passed through the 2015 Regular Session
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