If an heir is an adult with special needs, do we need a legal guardian or court-approved representative before the funds can be distributed? – North Carolina Short Answer Usually, yes—if the adult heir cannot legally manage money or sign for themselves under North Carolina law, the Clerk of Superior Court typically will require a…
What changes if we later find a valid will that leaves the real estate (or its proceeds) to the surviving spouse? – North Carolina Short Answer In North Carolina, a later-discovered, valid will can change who is entitled to surplus foreclosure proceeds because the proceeds generally follow the deceased owner’s property rights. If the will…
How do I confirm the hearing date and time for my surplus funds case with the clerk’s office? – North Carolina Short Answer In North Carolina, surplus funds disputes are typically handled as a special proceeding before the Clerk of Superior Court. The most reliable way to confirm the hearing date and time is to…
What documents do I need to show I was the sole owner when the home was sold? – North Carolina Short Answer In North Carolina, the most common way to show sole ownership for a surplus funds claim is a recorded deed showing title in one name at the time of foreclosure, plus the foreclosure…
How do I claim my share of surplus funds from a foreclosure when there are multiple co-owners? – North Carolina Short Answer In North Carolina, surplus funds from a foreclosure sale usually get paid to the Clerk of Superior Court when the trustee is not sure who should receive them, including situations with multiple co-owners.…
Can the hearing be scheduled in the afternoon or held remotely if I can’t attend in person? – North Carolina Short Answer Sometimes. In North Carolina, many hearings about foreclosure-related funds are scheduled by the Clerk of Superior Court, and the clerk has discretion to set the time and manage the hearing. A party who…
What happens if there are no bids at the foreclosure auction—does the property go back to the bank and does that mean there are no surplus funds? – North Carolina Short Answer In North Carolina, if no one bids at the foreclosure auction, the lender can still end up with the property, but it usually…
Is there a standard waiting period after the auction before any surplus funds can be requested or distributed? – North Carolina Short Answer Yes. In North Carolina, a foreclosure auction is not “final” on the sale date because North Carolina allows a 10-day upset-bid period after the report of sale is filed with the Clerk…
Am I allowed to bid on the property at the foreclosure auction while I’m an heir living there, and would that affect any surplus funds? – North Carolina Short Answer In North Carolina, an heir who lives in a home being foreclosed generally may bid at the foreclosure sale just like any other buyer, as…
Do all lienholders and interested parties have to be served before the court will set the hearing, and what happens if someone doesn’t respond? – North Carolina Short Answer In North Carolina surplus funds cases, the clerk will normally require that all known lienholders and other interested parties be named and properly served before moving…