United States — Maine Act or statute

United States — Maine legislation

Maine Revised Statutes, Title 10, § 3260: Deficiency; judgment for balance

If sale proceeds after costs are not enough to pay lien claims and costs, the court may enter judgment against the debtor for the unpaid balance and issue executions. If proceeds exceed all lien c…

judgment collectionsale proceeds distribution

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01

Purpose and legislative effect

“If sale proceeds after costs are not enough to pay lien claims and costs, the court may enter judgment against the debtor for the unpaid balance and issue executions. If proceeds exceed all lien claims and costs, the remaining balance must be paid to those legally or equitably entitled to it.”

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Deficiency; judgment for balance

If sale proceeds after costs are not enough to pay lien claims and costs, the court may enter judgment against the debtor for the unpaid balance and issue executions. If proceeds exceed all lien claims and costs, the remaining balance m…

Section 3260

04

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Source record from legislature.maine.gov · Source version 1 Oct 2025

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Provision
§ 3260Deficiency; judgment for balanceProvision

If sale proceeds after costs are not enough to pay lien claims and costs, the court may enter judgment against the debtor for the unpaid balance and issue executions. If proceeds exceed all lien claims and costs, the remaining balance must be paid to those legally or equitably entitled to it.

If the proceeds of the sale after payment of costs and expenses of sale are insufficient to pay the lien claims and costs in full, the court may render judgment against the debtor in favor of each individual lienor for the balance of the individual lienor's claim and costs remaining unpaid and may issue executions for the judgments. If the proceeds of sale, after the payment of costs and expenses of sale, are more than sufficient to pay the lien claims and all costs in full, the balance remaining must be paid to the person or persons legally or equitably entitled to the remaining balance. [RR 2023, c. 2, Pt. C, §73 (COR).]
Section 3260Verify source

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  • 1 Oct 2025 · currentEnglish

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