Legal Question in Real Estate Law in California
Surpls funds or Excess Proceeds! My mother had a property 15 years ago that had some money left over after the sale that she never claimed. Can she still claim the Surplus Funds or Excess Proceeds. And, where are they now?
4 Answers from Attorneys
Try unclaimed.org (an official government web site that includes the California State Controller's Unclaimed Property page). Maybe the State of California, or some other state, has your money.
I agree with Mr. Stone. I would check the State of California's unclaimed property website first, otherwise your surplus may have escheated.
I assume it was a trustee's sale (foreclosure) that resulted in the surplus funds. In addition to the Web sites, etc. suggested by the other attorneys, I would attempt to contact the trustee who conducted the sale and also to pull up all the records respecting the property at the counrty recorder's office (trustee's deed, etc.) to see whether they shed any light on the amount received from the sale and their disposition.
If it was a foreclosure sale, the funds are either in the hands of the trustee that conducted the sale, or have escheated to the state, in which case they can be located here: http://www.sco.ca.gov/upd.html Mr. Roach is wrong that they could have permenantly escheated to the state. California law prohibits permenant escheat, only temporary escheat under the Unclaimed Property Law.
If it was a contractual sale, the funds are in the hands of the escrow company, or again have temporarily escheated.