Disclaimer: This article is for educational purposes and does not constitute legal advice.
Detailed Answer
Under Kansas law, a surplus occurs when a foreclosure sale yields more than the debt and costs owed. To claim these funds, you must file a petition in the district court where the sale occurred. The governing statute is K.S.A. 60-2412.
- Confirm the surplus amount. Obtain the sheriff’s sale report or certificate from the district court clerk. This report shows the sale price, debt satisfied, costs, and any surplus funds available.
- Prepare the petition. Draft a “Petition for Distribution of Surplus Proceeds” that includes:
- Case caption and number of the foreclosure
- Date, time, and location of the sheriff’s sale
- Sale price and calculated surplus amount
- Your interest or right to the surplus (attach supporting documents such as deeds, assignments, or payoff statements)
- File the petition and pay fees. Submit your petition to the district court clerk’s office in the county where the sale occurred. Pay the applicable filing fee under the Kansas Supreme Court Fee Schedule.
- Serve notice on interested parties. Serve the original lender, trustee, and any potential claimants by certified mail or as directed by the court. Kansas law requires notice of the petition and hearing on distribution to all interested parties.
- Attend the hearing. The court will schedule a hearing to review your petition. Present evidence of your entitlement to the surplus. If the judge approves, the court enters an order directing the clerk to distribute the funds.
- Collect the funds. After the court’s order, coordinate with the clerk’s office to receive the surplus check.
Helpful Hints
- Check deadlines: Kansas law may limit claims to one year after the sheriff’s sale, so act promptly.
- Gather documentation: Collect deeds, loan records, foreclosure notices, sale reports, and any assignments that prove your interest.
- Consult the court clerk: Verify local procedures, service requirements, and current fee amounts.
- Use certified mail: Obtain proof of service when notifying interested parties to avoid disputes.
- Consider professional help: A qualified attorney or title company can assist if you face complex ownership issues or multiple claimants.
Disclaimer: This article is not legal advice. For legal assistance, consult a qualified attorney.