How We Help You Claim Your Surplus Funds

 A straightforward legal process handled by attorneys who know how to manage North Carolina surplus funds law.

Sign in front of a house reading "Foreclosure" and "House for Sale" with a blurred house in the background.

Understanding Surplus Funds From Foreclosures

When your property is sold at a foreclosure auction, it sometimes sells for more than what was owed on the mortgage plus the costs of the sale. This extra money is called "surplus funds" or "excess funds."

By law, these funds belong to the former property owner, not the bank or mortgage company. However, claiming these funds requires a specific legal process that many general practice attorneys don't handle regularly.

Our firm focuses on helping property owners recover these funds quickly and efficiently.

The Surplus Funds Recovery Process

1. Free Initial Consultation

We'll review your situation to determine if you have a valid claim for surplus funds. You'll need to provide basic information about your foreclosed property and the approximate date of foreclosure.

 2. Title Search & Case Evaluation

Our team initiates a thorough title search to identify:

  • Confirmation of fund availability

  • Amount of surplus funds being held

  • Potential competing claims

  • Chain of title analysis

This step requires deep legal knowledge. The court demands a precise title opinion that identifies every potential claimant across decades of property records. Missing even a single potential claimant can result in your petition being rejected.

3. Preparation of Legal Documents

We prepare all necessary documentation for your claim, including:

  • Petition for surplus funds with proper legal formatting

  • Supporting legal exhibits (often 20+ pages of technical documents)

  • Court filing documents with jurisdiction-specific requirements

  • Notice to potential claimants with legally-required language

Each county has specific procedural requirements, and documents must follow strict legal standards that general forms cannot satisfy.

4. Court Filing & Representation

Our attorneys file your petition with the appropriate county court and represent you throughout the legal process:

  • Filing the petition with the Clerk of Court

  • Serving notice to other potential claimants (following strict legal procedures)

  • Addressing any competing claims (requires legal argument before the court)

  • Attending all required court hearings (where legal acumen is essential)

Without proper legal representation, you would need to personally appear in court and argue your case against any competing claimants, including potential creditors with their own legal teams.

5. Fund Distribution

Once the court approves your claim:

  • The clerk issues an order releasing the funds

  • We ensure proper distribution of the money

  • You receive your portion of the surplus funds

  • Our fee is paid only from the recovered amount

How Long Does the Process Take?

The typical surplus funds claim in North Carolina takes approximately 3-6 months to complete from start to finish. Several factors can impact this timeline:

  • County court caseload and processing times

  • Complexity of the title history

  • Presence of competing claims

  • Estate issues if the property owner is deceased

We work to make the process as efficient as possible while ensuring all legal requirements are properly met.

Complicated Situations We Handle

  • Prior to filing a petition, we conduct a complete title search to identify everyone in the chain of title who might be owed money. This requires searching through decades of property records, liens, judgments, and other potential claims. Without professional legal title search capabilities, individuals often miss critical information that can invalidate their claim entirely.

  • Other claims against the funds could include:

    • Judgment liens (often hidden in county records)

    • Credit card judgments (which may have been sold to collection agencies)

    • Tax liens (federal, state, and local)

    • Unpaid second mortgages

    • Equity lines of credit

    Each competing claim requires legal analysis and potentially contested hearings. Without legal representation, you would need to personally argue against creditors' attorneys in court.

  • If the foreclosed property belonged to someone who has passed away, an estate may need to be opened in court to distribute the money to rightful heirs. This combines probate law with surplus funds law, creating a highly complex legal situation that requires simultaneous management of two court proceedings. Most individuals find this process overwhelming without knowledgeable legal assistance.

Two professionals, a man and a woman, giving each other a high five in an office setting. The man has a beard and is wearing a light shirt with a striped tie, while the woman has long hair and is dressed in a blazer. The table has papers, a laptop, mugs, and a glass of water, with a whiteboard with charts and a large window in the background.

Why Our Firm Is Different

Years of Experience: Many attorneys rarely handle surplus funds cases. Our team brings specific experience to this legal process, with a focus on maximizing your recovery.

Transparent Communication: We keep you informed throughout the entire process. You'll always know where your case stands and what to expect next.

Efficient Processing: Our focused approach and experience with surplus funds claims means we can often complete the process more quickly than general practice attorneys.

Full-Service Approach: From initial consultation to receiving your funds, we handle every aspect of the legal process so you don't have to worry about complicated paperwork or court appearances.

Common Questions About Surplus Funds Claims

  •  A: We can verify this for you during your free consultation. You may have received a letter from the court, or we can check court records based on your foreclosure information.

  • A: Basic information about the foreclosed property, when it was foreclosed, and proof of your identity. We'll guide you through what documents are needed.

  • A: Technically yes, but we strongly advise against it. The process involves complex legal filings with specific formatting requirements, detailed title searches requiring legal knowledge, court appearances before a judge, and potential negotiations with competing claimants. Most self-filed petitions are rejected by the court due to procedural errors, missing documentation, or improper format. Even small mistakes can result in your claim being denied or significantly delayed. The courts themselves often recommend seeking legal counsel for these matters.

  • A: Part of our process includes identifying and addressing potential competing claims. We'll work to ensure you receive the maximum amount you're legally entitled to.

  • A: We work on a contingency basis, meaning we only get paid if we recover money for you. There are no upfront costs.

Ready to Claim Your Surplus Funds?

Don't leave your money sitting unclaimed. Our team is ready to help you recover what's rightfully yours.

Start with a free, no-obligation consultation:

The sooner you start, the sooner you can receive your funds.