Q: I have a property in Georgia that went into bank foreclosure, it sold for significantly more than was owed.
I understand that the surplus is to go to the title holder but I don't understand how to start that process or how to make the motion to have the trustee send the funds to me.
A: The attorney who handled the foreclosure for the bank receives the money on behalf of the bank at the foreclosure sale. Based on the condition of the title, the foreclosure attorney will either release the funds to the former titleholder if there are no other claimants or turn the funds over to the court in an interpleader action if there are multiple claimants. At that time, you would need to file an answer in the interpleader and state your case for the surplus funds. Attorneys in Georgia typically charge a percentage of the amount recovered to file the claim on your behalf. Schedule a free consultation to make sure your claim is preserved.
Jennifer Pierce agrees with this answer
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
