Foreclosure surplus money claim inquiry
Good morning, I have a procedural question regarding surplus monies following a foreclosure sale. Where a foreclosure sale results in surplus funds being deposited by the referee, what is the proper procedure for a creditor and or the owner to obtain those funds? Specifically: 1. Is a separate surplus money proceeding commenced, or is relief sought by motion within the existing foreclosure action? 2. Who typically initiates the proceeding the party seeking surplus, the plaintiff, or another party? 3. Is the original referee who conducted the sale typically appointed to ascertain surplus claims, or is a new referee appointed for that purpose? Any insight or practice tips would be appreciated. thanks for all responses. -- James J. Quail, Esq. 5550 Merrick Road, Suite 201 Massapequa, New York 11758 t.516.799.9100 | efax.516.494.7123
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James Quail