4.02.050 Proceeds of Sale Exempt; Disposition

If the sale of a homestead is made, the proceeds thereof, to the amount of the homestead exemption must be paid to the claimant and the residue applied to the satisfaction of the execution. When the execution is against a married claimant whose spouse is living, the court may direct that the amount be deposited in court to be paid out only on the joint receipt of the husband and wife, and it shall possess all the protection against legal process and voluntary disposition by either spouse as did the original homestead premises whether paid directly to the claimant or to the husband and wife jointly. Any excess funds remaining after the sale shall be returned to the debtor. First right to repurchase the property shall be with the debtor. In addition, the debtor has the right to participate in any auction held pursuant to this chapter.