Judge: Layne H. Melzer, Case: "InRe:2285ColgateDrive,CostaMesaCA92626", Date: 2022-10-20 Tentative Ruling

Claimant Thomas Buckowski

Motion - Other (Motion for Distribution of Surplus Funds)

The claim of claimant Thomas Buckowski, Interim Trustee of the trust of decedent James Lee Cavanaugh, to the $94,395.80 on deposit with the court as surplus funds from the foreclosure sale of Cavanaugh’s home is granted.

By the posting of this tentative ruling, the court gives notice that it will and does to take judicial notice of the files for In re James Lee Cavanaugh Trust, Orange County Superior Court case no. 2021-01183612, and particularly the order dated 9/24/21 at ROA #14.

Where there are surplus proceeds, the statute sets the priority for distribution. It is undisputed that under Civil Code § 2924k(a)(4), after the outstanding balance of obligations secured by any junior liens or encumbrances in the order of priority are satisfied, the remainder of any surplus proceeds should be disbursed to the trustor or the trustor's successor in interest. 

Here, the successor in interest to trustor Cavanaugh is the trustee of his trust.  That has now been established to be Claimant as Interim Trustee if the James Lee Cavanaugh Trust.

Counsel for Claimant is to submit a proposed order.