The New York Foreclosure Auction Surplus Monies Form is a legal document used to collect funds from the surplus money that is leftover after a foreclosure sale. The form is used to request the release of any funds that remain after a foreclosure sale has been completed. There are two types of New York Foreclosure Auction Surplus Monies Form: the Residential Foreclosure Auction Surplus Monies Form and the Commercial Foreclosure Auction Surplus Monies Form. The Residential Foreclosure Auction Surplus Monies Form is used to collect funds from the sale of residential property, while the Commercial Foreclosure Auction Surplus Monies Form is used to collect funds from the sale of commercial property. Both forms require the completion of various fields, such as the name and address of the borrower, the address of the property, the date of the sale, the amount of the surplus monies, and the signature of the collector. The completed form must be submitted to the court in order to receive the surplus monies.
New York Foreclosure Auction Surplus Monies Form
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How to fill out New York Foreclosure Auction Surplus Monies Form?
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FAQ
In Tennessee, if there are excess proceeds following your property's sale at auction, you may file a Motion to Claim Excess Proceeds to claim it. You are responsible for any associated court costs, and you must serve copies of the motion to all interested parties.
Lender asks court for a judgment on default and to appoint a Referee to decide the amount you owe and write a report. Lender asks court to accept the Referee's findings. Judge orders sale of your home. Lender and Referee choose date for auction at the courthouse.
If you are wondering how to claim surplus funds from foreclosure, these are the steps to follow: Provide proof of prior ownership.Provide verification of funds.Contact the trustee. Once you have contacted your trustee, submit a claim form to the trustee and the court.
Surplus funds are extra monies above the foreclosure judgment amount held by the Clerk of Court following a sale in a foreclosure case. The plaintiff in such cases (either the Bank or the Association) may only bid up to its judgment amount at the sale.
Surplus Money Proceedings Referee's report must be entered at the County Clerk. Fee is $10. Surplus monies must be deposited into court. Mail a written request, including: A listing of the title of action. The index number. What you're requesting. A self-addressed, stamped business-sized envelope.
In most states, a foreclosure ends with a public auction where the property is sold to a new owner. When a foreclosure sale results in excess proceeds?money over and above what's needed to pay off all the liens on the property?this surplus money belongs to you (the homeowner), not the lender.
Trustees forward surplus funds to the state's unclaimed property division if they're not able to contact the prior homeowner(s). Californians may inquire about unclaimed surplus funds with the California State Controller at 1 (800) 992-4647. Remember: prior homeowners are notified of possible surplus funds via mail.
In general, if no other liens or claims exist, the owner of the property which is sold at auction has the right to collect any surplus funds after foreclosure. However, if any liens or claims exist, they would have priority over the owner of the property to the surplus foreclosure funds.