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New York Foreclosure Auction Surplus Monies Form

Foreclosure Action Surplus Monies Form

Name: New York Foreclosure Auction Surplus Monies Form
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.56 (413 reviews)

Category:

New York Local County - Queens - Supreme Court

State:

New York

Control #:

NY-QNS-95

Format:

Instant download

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Public form

Description

Foreclosure Auction Surplus Monies Form 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.

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.

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FAQ

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.

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 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.

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.

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.

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.

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.

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.

More info

In order to claim surplus funds, one has to file a Petition for Surplus Funds, explaining (or proving) to the court how you are entitled to those funds. Make the steps below to complete Foreclosure action surplus monies form online quickly and easily: Log in to your account.If this is an E-Filed case, upload this form to NYSCEF as a "Foreclosure Action Surplus Monies Form". If you need help claiming surplus funds from a foreclosure sale, we can help. Call (818) 254-8413 to get started today. If the purchase price at the foreclosure sale exceeds the borrower's loan balance, this extra amount is called "excess proceeds" or "surplus funds. Surplus Funds May Be Available After a Foreclosure Sale. There is a form you will need to file to claim the proceeds. If we sell a parcel at a foreclosure auction for more than the amount owing, the previous record title owner can claim the surplus money. If there is a surplus that result from a foreclosure sale, you are entitled to the surplus money.

Foreclosure Action Surplus Monies Form

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How to fill out New York Foreclosure Auction Surplus Monies Form?

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FAQ

Who gets the surplus funds from a foreclosure?

What happens with surplus funds?

Who does the surplus funds from a foreclosure sale generally belong to?

How do I claim surplus funds from a foreclosure in NY?

What is surplus funds in a house sale?

How do I recover money from a foreclosure?

What is the process of foreclosure auction in NY?

How do I claim surplus funds from foreclosure in Tennessee?

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