Legal Question in Business Law in Georgia

I have a second lein on a piece of property tht was auctioned for property taxes that was owed on the property. There were excess funds of $65,000 from the auction. The sale took place last april. The first lein holder (the bank) was not interested in paying the property taxes and said let it go to auction. They have never tried to collect the excess fund until a interpleader was filed in court. Now they are wanting to collect all of it. They say that the are owed alot more than the excess but also say they are in litigation with the owner on the money that is owed to them from the owner. He still owes me alot more that 65k also. The banks attorney filied for a hearing to distribute funds. Is there anyway that i counld get any funds out of this? What kind of argument could i make? Please Help


Asked on 1/23/13, 1:22 pm

2 Answers from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Your post does not indicate any reason that the bank would not get the full proceeds, up to the amount of its debt. That was the benefit of its bargain. Of course, since it is a court case we don't know all the details so you might want to at least have a lawyer review the facts and pleadings.

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Answered on 1/23/13, 1:29 pm
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Nothing in your post tells us why you would (or would not) receive any monies. The facts that you were unable to clearly articulate your argument to a point where we can understand it here means a judge won't understand it either.

In ANY interpleader action, legal counsel is necessary. You are about 100% guaranteed to lose on your own. Why would you possibly not spend a few dollars to confer with a lawyer? Then you can assess if (1) you have a claim, and (2) how to present it.

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Answered on 1/23/13, 4:50 pm


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