Can a business work with a law firm to help people recover surplus funds after a foreclosure sale? – NC Short Answer Sometimes, but North Carolina law puts real limits on how that relationship can work. A business may help locate potential claimants or provide administrative support, but it cannot practice law, control legal advice,…
What happens if the trustee will not agree to continue the foreclosure hearing date? – NC Short Answer In North Carolina, a foreclosure hearing before the clerk can still be continued even if the trustee or foreclosing party does not agree. The clerk of superior court has authority to continue the hearing for good cause,…
Can an executor be reimbursed for estate expenses even if the estate was mishandled or property went into foreclosure? – NC Short Answer Yes, in North Carolina, an executor or other personal representative can often receive credit or reimbursement for proper estate expenses that were actually paid on behalf of the estate, even if other…
What happens if a company contacts me claiming there is foreclosure surplus money and I am not sure whether it is legitimate? – NC Short Answer In North Carolina, a notice from a private company about possible foreclosure surplus money may be legitimate, but it should not be trusted until the surplus is confirmed through…
Do all heirs have to be formally joined and served in a surplus funds case, even if everyone agrees on the distribution? – NC Short Answer Usually, yes. In North Carolina, a surplus funds proceeding after foreclosure must include as defendants all persons who have filed a claim with the clerk or who, as far…
Do all heirs or co-owners have to consent for someone to assume the mortgage or purchase everyone else’s interest? – NC Short Answer No. In North Carolina, one heir or co-owner usually cannot force the others to sell their shares or agree to a mortgage assumption just by asking for consent. A person can buy…
Can we still move forward if another attorney for an interested party files their own surplus-funds petition first? – NC Short Answer Yes. In North Carolina, one interested party filing a surplus-funds petition first does not automatically block another claimant from moving forward. The key issue is whether all known claimants are properly brought into…
What happens if the petition for surplus funds includes someone who is not actually an heir? – NC Short Answer In North Carolina, naming someone in a surplus-funds petition who is not actually an heir does not automatically destroy the case, but it can delay payment and create a dispute over who is entitled to…
Why does the clerk require a title search before releasing surplus foreclosure funds, and what should the title search cover? – NC Short Answer In North Carolina, the clerk often requires a title search before releasing surplus foreclosure funds to make sure the money goes to the correct person and that no recorded lienholder, creditor,…
If one of the interested parties has a guardian because they were found incompetent, who has to be served and who can respond on their behalf? – North Carolina Short Answer In a North Carolina surplus funds special proceeding, an interested party who has been adjudicated incompetent generally cannot act on their own in the…
