Judge: Stephen I. Goorvitch, Case: 23STCP03566, Date: 2024-03-06 Tentative Ruling

Case Number: 23STCP03566    Hearing Date: March 6, 2024    Dept: 39

Quality Loan Service Corp. v. All Claimants to Surplus Funds

Case No. 23STCP03566

Motion to Discharge Petitioner and Deposit Surplus Funds

Petitioner Quality Loan Service Corporation (“Petitioner”) filed this action to address surplus funds from a trustee’s sale. According to the petition, the deed of trust was executed by Shanna Soomi Choi on May 13, 2009. The property that was subject to the trustee’s sale was held on April 10, 2023. The property was sold for $385,000. After payment of costs/expenses and satisfaction of the obligations secured by the deed of trust, per Civil Code section 2924k(a)(1) & (2), there was a surplus of $191,358.66.

Petitioner received a claim from the junior lien holder (Santa Rosalia 102, Inc.) and accordingly disbursed funds in the amount of $7,187.50. Petitioner also seeks to deduct an additional $5,517.35 in costs and expenses associated with this litigation.  Petitioner moves for an order depositing the remainder of the surplus funds—$178,653.81—with the Court and discharging Petitioner of any liability. The Court would then consider any claims to the surplus funds. If no claims are filed within thirty (30) days of the Court’s order, i.e., a claim from Shanna Soomi Choi, the funds would escheat to the State of California as unclaimed property.

The Court issued a tentative order on January 24, 2024.  The Court provided notice that it would grant the tentative order unless there is an opposition or other good cause.  No opposition has been filed.  Therefore, the Court adopts its tentative order and orders as follows:

1.         Petitioner’s motion is granted.  The Court approves Petitioner’s request for reimbursement of $5,517.35 in costs.  The Court orders Petitioner to deposit the remainder of the surplus funds—$178,653.81—with the Court.  The Court discharges Petitioner of any liability associated with these funds.

2.         The Court sets a deadline of April 10, 2024 (which is 30 days plus an additional five days for notice) for any claims. Claims may be filed in the above-referenced case. Anyone who wishes to file a claim but is experiencing difficulty doing so may contact the Court’s clerk, Roberto Mendoza, at (213) 633-0159 for assistance. Anyone may file a claim by personally visiting the courtroom—Department #39—during court hours, and the Court’s clerk will accept the claim for filing.

3.         The Court will hold a hearing on April 19, 2024, at 8:30 a.m. at the following location:

Stanley Mosk Courthouse

111 North Hill Street

Department #39 (Goorvitch, J.)

Los Angeles, California 90012

All claims will be considered at that time.  Any claimant may appear and address the Court at the hearing.

            4.         If no claims are filed, the Court will order that the surplus shall escheat to the State of California as unclaimed property.

5.         Petitioner shall provide notice to Shanna Soomi Choi at all potential addresses, as well as any other potential claimant of which Petitioner is aware.

6.         Petitioner shall file a proof of service with the Court forthwith.