Judge: Andrew E. Cooper, Case: 23CHCP00314, Date: 2023-11-15 Tentative Ruling

Case Number: 23CHCP00314    Hearing Date: November 15, 2023    Dept: F51

DETERMINE DISBURSEMENT OF SURPLUS FUNDS

Motion filed: 08/04/23

MOVING PARTY: Quality Loan Service Corp.

RESPONDING PARTY: N/A

NOTICE:

RELIEF REQUESTED: Determine Disbursement of Surplus Funds

TENTATIVE RULING: Hearing placed off-calendar.

BACKGROUND:

Quality Loan Service Corp. is the Trustee under a Deed of Trust executed by Hyman I. Greenfield recorded on 8/12/2005. The Deed of Trust was secured by real property commonly known as 19859 Sandpiper Place, #116, Santa Clarita, CA 91321, which was sold at a non-judicial foreclosure sale on February 9, 2023 as result of a default under the terms of the Deed of Trust. The sale yielded funds that exceeded the amount due and owing under the Deed of Trust foreclosed upon. Petitioner (Trustee) filed a petition to deposit surplus funds with the court and a motion to deposit the funds, pursuant to California Civil Code Section 2924j(c) and be discharged.

On July 24, 2023, the Court approved the Petition to Deposit Surplus Funds. On September 5, 2023, the Court ordered Petitioner (Trustee) to deposit surplus funds by September 18, 2023. On September 14, 2023, the Court issued a Notice of Entry of Order to Deposit Surplus Funds in which it discharged Petitioner and stated that Petitioner is not required to make any further appearances. On September 26, 2023, the Clerk filed the Notice of Hearing on Claims to Determine Disbursement of Surplus Funds. However, no claims have been filed with the Court.

ANALYSIS

If the trustee fails to determine priority or there is a dispute, the trustee must deposit the funds with the court pursuant to Civil Code § 2924j(c). The Court “shall consider all claims filed at least 15 days before the date on which the hearing is scheduled with the court.” (Civ. Code, § 2924j(d).) The Court determines priority according to Civil Code § 2924k(a): (1) the costs and expenses incurred in the selling of the property, (2) payment of any obligations secured by the deed or mortgage, (3) to satisfy any outstanding obligations encumbering the property, and (4) to the vested owner at the record time of the trustee’s sale. (Civ. Code, § 2924k(a) (1–4).)

Here, no claims were filed with the Court in advance of this hearing. As such, the Court places the hearing off-calendar.

CONCLUSION

The hearing is placed OFF-CALENDAR as no claims have been filed regarding the undistributed funds.