61.24.070 - Trustee's sale, who may bid at -- If beneficiary is purchaser -- If purchaser is not beneficiary.

Trustee's sale, who may bid at — If beneficiary is purchaser — If purchaser is not beneficiary.

(1) The trustee may not bid at the trustee's sale. Any other person, including the beneficiary, may bid at the trustee's sale.

     (2) The trustee shall, at the request of the beneficiary, credit toward the beneficiary's bid all or any part of the monetary obligations secured by the deed of trust. If the beneficiary is the purchaser, any amount bid by the beneficiary in excess of the amount so credited shall be paid to the trustee in the form of cash, certified check, cashier's check, money order, or funds received by verified electronic transfer, or any combination thereof. If the purchaser is not the beneficiary, the entire bid shall be paid to the trustee in the form of cash, certified check, cashier's check, money order, or funds received by verified electronic transfer, or any combination thereof.

[1998 c 295 § 9; 1965 c 74 § 7.]