Delaware Estate Sale Excess Proceeds Attorney
The Superior Court of Delaware has initiated a program called Project Rightful Owner. The goal of this program is to distribute excess foreclosure sale proceeds that are left over after a person’s home is sold at sheriff auction. Excess proceeds can occur when the Sheriff sale price exceeds any outstanding mortgages, liens, or tax debts. This program is designed to allow rightful owners to claim the proceeds and get the excess funds.
Foreclosure sales occur when a mortgage has been unpaid for a period of time, or when a tax debt is due and unpaid. Once a sale occurs the money from the Sheriff sale is used to pay off the remaining mortgage balance, tax liabilities, and any other liens on the property. Often there is money left over from the Sheriff sale but no one is aware of the excess. Years can go by and the proceeds sit with the Courts waiting to be claimed.
The first step is to determine if you are a rightful claimant. If you owned the property that was foreclosed upon you are eligible to make a claim. If the owner of the property is now deceased, the decedent’s heirs are eligible to make a claim. Often after someone dies the estate can get lost in the shuffle or there may be property that no one ever knew about. The property will usually end up in foreclosure status if the estate fails to pay the mortgage. Anyone who was eligible to inherit from the decedent can make a claim.
Once you have determined that you can make a claim as an heir of an estate or an owner of the foreclosed property you must file the appropriate paperwork with the Court. This process can be complicated. If you believe there is money due to you, you should contact an attorney to help you get it back.
The attorneys at Carucci Di Lorenzo, LLC, can help. Contact us today to begin the process of reclaiming your money.
