Judge: Craig Griffin, Case: RESS Financial Corporation v. Acosta, Date: 2022-11-28 Tentative Ruling

Plaintiff RESS Financial Corporation’s (“RESS”) unopposed motion for an Order that: (1) RESS deposit with the court the sum of $124,092.88 (“Surplus Funds”) (less sums that the court may award RESS in reasonable attorney’s fees and costs); (2) Upon the deposit of said amount, RESS be discharged from all liability asserted against it with respect to the Surplus Funds by the claimants designated as defendants herein and by all other persons; (3) Upon the deposit of said amount, all claimants designated as defendants herein, and all other persons be ordered to interplead their claims in this action; and be further restrained from instituting or prosecuting in any other court, any proceeding affecting the rights and obligations of RESS with respect to the Surplus Funds; and (4) RESS be awarded its attorney’s fees in the amount of $2,200 and costs of $537 for its expenses incurred in this proceeding is GRANTED.  (Code of Civ. Proc. §§ 386(b), (f); 386.6.)

RESS has shown that on January 31, 2022, RESS, as trustee under a deed of trust secured by the Subject Property, conducted a Trustee’s Sale of the Subject Property and that as a result of an overbid at the Trustee’s Sale, RESS received $124,092.88 over the amount of the indebtedness secured by the deed of trust.  (May Decl., ¶¶ 2-3.)  RESS has received multiple claims against the Surplus Funds by the defendants in this action.  (May Decl., ¶ 4.)  It is RESS’s position that it cannot determine the validity of the conflicting claims.  (Mtn. 3:5-9.)  RESS also asserts that it has no interest in the Surplus Funds.  (Mtn. 3:2-4.)  A Complaint in Interpleader was filed, and all Defendants have appeared in this action.  (ROA 2, 12, 25, 29.)

RESS also seeks attorney’s fees and costs in the amount of $2,737.  (Mtn. 2:23-26; May Decl., ¶¶ 6-7.)  The amount requested is reasonable and is thus GRANTED.  (Code Civ. Proc. § 386.6(a).)

Accordingly, the Motion is granted in its entirety.

RESS is to prepare and file a proposed order in accordance with this ruling.

Moving party to give notice.