Judge: Michael Shultz, Case: 23CMCP00126, Date: 2023-08-24 Tentative Ruling
Case Number: 23CMCP00126 Hearing Date: August 24, 2023 Dept: A
23CMCP00126
Thursday, August
24, 2023, at 8:30 a.m.
[TENTATIVE] ORDER
GRANTING MOTION TO DEPOSIT SURPLUS FUNDS PURSUANT TO CIVIL CODE § 2924J AND TO
DISCHARGE PETITIONER
Petitioner commenced this action
on July 13, 2023, with a petition to distribute surplus funds of $168,585.17 remaining
after paying the foreclosing creditor and deducting fees and expenses.
Petitioner has complied with
statutory requirements to send written notice to individuals with a recorded
interest within 30 days from the execution of the trustee’s deed. Civ. Code, § 2924j(a). Once claims have been received,
the trustee must exercise due diligence to determine the priority of the
claims. Civ. Code, § 2924j(b). The trustee received and
distributed claims to two junior lien holders, leaving a balance of $52,812.57.
Petitioner has twice given notice to the known successors of the real property
owner at the time of foreclosure but no claims have been filed.
Before the trustee deposits the
funds with the clerk of the court pursuant to subdivision (c), “the trustee
shall send written notice by first-class mail, postage prepaid, to all persons
described in subdivision (a) informing them that the trustee intends to deposit
the funds with the clerk of the court and that a claim for the funds must be
filed with the court within 30 days from the date of the notice, providing the
address of the court in which the funds were deposited, and a telephone number
for obtaining further information.” Civ. Code, § 2924j(d).
Based on the foregoing, the Motion
to Deposit Surplus Funds is GRANTED. Upon the trustee’s deposit of the surplus
funds that cannot be distributed, the trustee shall be discharged of further responsibility
for the disbursement of sale proceeds. (Civ. Code, § 2924j(c).)