Detailed Answer
After a foreclosure sale in West Virginia, the circuit court may hold surplus funds when the sale price exceeds the debt and costs. WV Code §38-2-29 governs how to claim these funds. Follow these steps to file a petition:
- Confirm Eligibility and Deadline: Ensure you held title at the time of sale. File your petition within 12 months of the sale date as required by WV Code §38-2-29.
- Gather Documents: Obtain the foreclosure decree, sale order, proof of title (deed or title report), and the official sale date.
- Draft the Petition: Address the petition to the circuit court that handled the foreclosure. Include the original foreclosure case number, property legal description, all party names (sale purchaser, mortgagee, junior lienholders), and the exact surplus amount claimed.
- File the Petition: Submit your petition and supporting documents to the clerk of the appropriate circuit court. Pay any required filing fees.
- Serve Notice: Provide the petition to the foreclosure purchaser, all junior lienholders, and mortgagees under West Virginia Rules of Civil Procedure. Use certified mail or personal service to document delivery.
- Publish Notice: Publish notice of your petition in a local newspaper in the county where the sale occurred once a week for two consecutive weeks, or as directed by the court.
- Attend the Hearing: The court will schedule a hearing date. Present evidence showing your entitlement, including title documents and the foreclosure decree.
- Obtain Order and Collect Funds: If the court approves your claim, it will issue an order directing the clerk to distribute the surplus. File that order with the clerk and collect your funds.
Helpful Hints
- Double-check party names and addresses to prevent service issues.
- Track the 12-month deadline carefully; late petitions face dismissal.
- Retain certified mail receipts and publication affidavits.
- Review local circuit court rules for specific filing or service requirements.
- Consider consulting an attorney if other claimants dispute your interest.
Disclaimer: This article is for informational purposes only and does not constitute legal advice.