More about Surplus Funds Claims

More on Surplus Funds Claims...

*This is a supplemental post to our main article on Surplus Funds.

While anyone would be excited to learn that there is a pot of money awaiting them to claim it, there are some things you should know about the process.

1. It takes time…

Prior to any petition to claim the surplus funds being filed in court, it is essential to have a title search for the owner of the property (whether living or deceased). A title search will show who is in the chain of title that might be owed money from an existing claim against the property.

The court will require a title opinion that shows there are no other potential claims on the money. These claims could be judgment liens (credit card judgments, for example) or tax liens, or even an unpaid second mortgage or equity line of credit.

Any person or entity in the chain of title who are owed legitimate claims against those surplus funds should be paid first before any payments can be made to the prior owner or heirs of the owner.

2. It may require opening an Estate in Court…

If the funds are from a foreclosure sale of property which belonged to a decedent (deceased person), for example, when the heirs of someone who died did not continue to pay the mortgage, and it was foreclosed upon, there will need to be an Estate* opened in order to distribute the money to the rightful heirs. This adds a layer of complexity and potentially expense.

*If this situation applies to you, you’re in the right place! If an Estate needs to be opened to distribute the funds to heirs, we have comprehensive and robust estate administration (probate) practice, right here in the firm, and can do this seamlessly alongside your surplus funds claim.

*If this situation applies to you, you're in the right place!

If an Estate needs to be opened to distribute the funds to heirs, we have comprehensive and robust estate administration (probate) practice, right here in the firm, and can do this seamlessly alongside your surplus funds claim.

3. Where to start?

Our process is to start by ordering a title search. The title search will tell us many things like who exactly holds the legal title to the property and what, if any, claims (liens or judgements) may be attached to the property. Once we receive the title search and determine whether or not there are any outstanding claims against the property, we will be able to tell you whether your claim is worth pursuing. Analyzing claims against the property is an important step because those claims must be satisfied in a priority order (determined by the law) before you, the claimant, will receive any of the remaining funds. If there are substantial claims – for instance a second mortgage – which eat up the funds, it might not be worth pursuing. However, if the property does not have any claims attached to it, you may be entitled to the entire sum (less any “finder” agreements you may have entered into, and/or attorney fees). We will have a clearer picture of your claim’s condition after we analyze the title search.

Surplus Funds Recovered in 2023

$ 0

Experienced Claim Recovery

Our team has helped your neighbors reclaim THOUSANDS in surplus funds.

All 100 NC Counties

We represent surplus funds claims in ALL 100 COUNTIES in North Carolina.

Check Out Our 5-Star Reviews!

The Walls Law Group

5.0

review us on

Dave Gordon

12:16 01 Nov 24

My wife and I had worked with an estate planning attorney a number of years ago before our second child was born. After just a few minutes reviewing our current documents and plan with Jason, we realized we had way more exposure that we originally thought and our documents were way outdated. We had such a great experience with Jason putting together a new plan that is much more comprehensive and protective of the assets my wife and I have worked hard to earn and adds additional protection for our children. Working with Jason was great! He was patient with us as he walked us through all different types of scenarios we needed to consider and in cases where we weren't sure what to do, Jason gave us excellent advice and insight on what we should do. Getting our plan reviewed and updated was something we had on our todo list for a few years but was something that we never prioritized. I'm so glad we finally decided to do something about it and even more grateful that we found Jason and his team to guide us through everything! Now we know that our assets and our children will be protected for many years to come!

Michael Stock

15:26 30 Oct 24

I highly recommend Jason Walls and his team. Very professional, polite, knowledgable and easy to work with. Definitely the estate planner to go to in our area.

Robin Sarine

16:57 28 Oct 24

Walls Law Group is an excellent group! They recently helped our children create young adult plans in case of emergency now that they are old enough to manage their own healthcare. They walked them through the details and worked with their working and class schedules to get them in to sign their final documents. I'm so thankful to have peace of mind knowing our children are taken care of no matter what may come!

Rhonda B

18:17 26 Sep 24

We found the Walls Law Group after working with an estate lawyer in another town who was not a good communicator nor gave us any information or insight into estate planning. We have truly enjoyed working with Jason Walls and team...they explain things thoroughly and help walk us through any questions or concerns until we're comfortable. Communications have been AMAZING. We can't thank them enough for all their help in this process!

Tim Beese

18:13 26 Sep 24

They were very easy to work with, on our time schedule. We set up a trust and they helped us get everything allocated.

Megan Giroux

15:44 12 Jul 24

Jason and his team at the Walls Law Group are passionate about helping clients plan for their future. From their Young Adult Product to Estate Planning they make sure you have everything covered so when a life event happens it isn't more traumatic than it has to be. I highly recommend this group for your estate planning needs!

Judith Barwick

22:46 30 Nov 23

Robert was very helpful and pleasant to work with. I would definitely recommend The Walls Law Group to anyone in need of legal help.

LaTraikeyonnia Pridgen

14:43 08 Sep 23

Jason was a great help. He answer all our questions. He gave us good advice and recommendations. Our meeting was definitely worth it. I would definitely recommend his services for estate planning.

P Y

12:42 01 Sep 23

Fantastic group! Jason and Dawne have been invaluable in helping our mom get her estate in order. They paid attention to every detail, have always been kind, considerate and helpful throughout the process and even afterwards with follow up questions, etc. We appreciate them so much! Highly recommend!!

Suzy Southerland

13:33 18 Aug 23

In a world where customer service is disappearing, our experience with Jason Walls was outstanding. He made us feel very comfortable, talking us through the estate planning process in clear, simple language. I would highly recommend him to anyone seeking estate planning services.

Kevin O'Leary

17:23 16 Aug 23

Jason and his team were excellent. He asked all the right questions and made us think about some very important estate planning topics. He has great interpersonal skills and really wants to get to know his client.

Catherine Hinson

20:54 13 Jul 23

Robert was excellent to work with to get our estate planning completed. He went through each of our documents step by step, explained everything thoroughly, and answered all our questions and possible scenarios. We highly recommend!

Ken Miller

19:33 06 Oct 22

we have been working with Walls Law for almost 10 years and have been thrilled by the professional service that is provided. Recently completed a restatement of our living trusts and have recommended Jason's services. Both of our sets of parents have engaged Jason to either create new estate document or restate older living trusts.Jason helps by asking questions that we need to discuss with vs just giving options.

Rick Magnum

17:55 06 Oct 22

Jason & his team at the Walls law group did a fabulous job of guiding us through the highly detailed and daunting task of organizing and recording our Family Living trust and wills. They were instrumental in giving us direction, knowledge and follow through with this need that we all must face at one point. It is a monumental task of getting everything together, but they really made it easy. Don't delay on this important step with your family, they can really help.

Jack Tiger

13:51 19 May 22

The Walls Law Group did not disappoint! I needed help with the probate of my mother's estate and Ashley delivered. Her attentiveness to my case was so refreshing because I had to part ways with a disinterested law firm early in the probate process. Her organizational skills, patience with all the heirs, and legal knowledge was spot on. She guided me through the whole process, easing all anxiety of fulfilling my mother's wishes.

Bill Meacham

18:51 18 May 22

Jason and his team have guided us through the maze of creating and funding our family trust. It is a vital planning estate tool for many families. I am appreciative of the support Jason and his team have provided along the way and after the trust was created. I am confident in the The Walls Law Group that my wishes are being met for my family in the best possible fashion.

Jeffrey Feuerhelm

17:36 18 May 22

We met Jason and his team in Spring of 2019 when we needed to update our wills, advanced directives and powers of attorney since our children were now adults. The experience was exceptional experience and worth the $300 or so we spent. Jason did not try to oversell us on what we did not need. His staff were courteous, knowledgeable and personable. I highly recommend they also help me set up my LLC as well and provided great guidance to me. Jason and his team.