What is the process for working with a law firm on surplus funds recovery matters? – NC Short Answer In North Carolina, working with a law firm on a surplus funds recovery matter usually means the firm first confirms that surplus money exists after a foreclosure sale, identifies who may legally claim it, and then…
Can both spouses recover surplus funds if both names were on the deed? – NC Short Answer Often, yes. In North Carolina, foreclosure surplus funds usually go to the person or persons entitled to the ownership interest that remained after the sale, so if both spouses were record owners on the deed, both may have…
What happens if another company already contacted us about money left over after the foreclosure? – NC Short Answer In North Carolina, contact from another company does not mean that company has a right to the foreclosure surplus. Surplus funds are usually paid through the clerk of superior court, and if there is any doubt…
What information and documents do I need from a claimant to help them recover surplus funds? – NC Short Answer In North Carolina, the needed documents depend on whether the claim involves unclaimed property held by the State Treasurer or surplus funds tied to an estate or special proceeding. At a minimum, a claimant usually…
When do surplus funds require a court petition or lawsuit instead of a simple unclaimed-property claim process? – NC Short Answer In North Carolina, surplus funds usually require a court petition when the money came from a foreclosure, tax foreclosure, or other judicial sale and the funds were paid into the clerk of superior court.…
Is it legal to charge a fee for helping someone claim unclaimed property or surplus funds? – NC Short Answer Yes, in North Carolina, charging a fee to help someone recover unclaimed property or certain surplus funds can be legal, but only if the arrangement follows strict statutory rules. A noncompliant finder’s-fee agreement can be…
Can I use a finder’s-fee agreement to help people claim unclaimed funds held by the state? – NC Short Answer Yes, but North Carolina tightly regulates these agreements. A finder’s-fee agreement for unclaimed property held by the State Treasurer can be void and unenforceable if it is signed too early, exceeds the fee cap, or…
What kind of contract should I use if I locate surplus funds for someone else and want a percentage for helping them recover it? – NC Short Answer In North Carolina, the agreement is usually a written property-finder or finder’s-fee agreement governed by the Unclaimed Property Act. But not every percentage-based contract is enforceable. For…
What does it mean if the courthouse clerk says there is nothing for me to claim, but another family member already received a share? – NC Short Answer In North Carolina, that usually means one of two things: either no surplus foreclosure funds remain in the clerk’s file, or the clerk does not see a…
Do I need to get a new foreclosure hearing date reserved with the clerk before filing a motion to continue? – NC Short Answer Usually, yes. In a North Carolina power-of-sale foreclosure before the clerk, a continuance order works best when it sets the matter for a new date and time certain, so the moving…
