Question

If the amount realized at a Sheriff's sale upon a delinquent mortgage is more than the indebtedness, the excess belongs to:_____.a. the Sheriff's office.
b. the mortgagee.
c. the mortgagor.
d. the purchaser.

Answer 1

Answer: The mortgagor

Explanation:

If the amount realized at a Sheriff's sale upon a delinquent mortgage is more than the indebtedness, the excess belongs to the mortgagor.

It should be noted that the mortgagor is the borrower, therefore he or she is the person that is entitled to the excess received upon the sake of the asset.