[WSBARP] Excess proceeds in judicial foreclosure of DOT

[John McCrady]

I think the answer is in RCW 6.21.110….

(5)(a) If, after confirmation of the sale and the judgment is satisfied, there are any proceeds of the sale remaining, the clerk shall pay such proceeds, as provided for in (b) of this subsection, to all interests in, or liens against, the property eliminated by sale under this section in the order of priority that the interest, lien, or claim attached to the property, as determined by the court. Any remaining proceeds shall be paid to the judgment debtor, or the judgment debtor's representative, as the case may be, before the order is made upon the motion to confirm the sale only if the party files with the clerk a waiver of all objections made or to be made to the proceedings concerning the sale; otherwise, the excess proceeds shall remain in the custody of the clerk until the sale of the property has been disposed of.
(b) Anyone seeking disbursement of surplus funds shall file a motion requesting disbursement in the superior court for the county in which the surplus funds are deposited. Notice of the motion shall be served upon or mailed to all persons who had an interest in the property at the time of sale, and any other party who has entered an appearance in the proceeding, not less than twenty days prior to the hearing of the motion. The clerk shall not disburse such remaining proceeds except upon order of the superior court of such county.
(6) The purchaser shall file the original certificate of sale for record with the recording officer in the county in which the property is located


John McCrady
Counsel
Puget Sound Title Company
5350 Orchard Street West
University Place WA 98466
253-476-5721

From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Craig Blackmon
Sent: Wednesday, May 11, 2016 2:09 PM
To: WSBA Real Property List Serve <wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] Excess proceeds in judicial foreclosure of DOT

'Mates, I spent 10 minutes looking for the answer and decided to just ask The Group:

If a DOT is foreclosed judicially and sold following a default (or for that matter any other) judgment, what happens to any excess proceeds following payment of costs and all junior liens? Are the foreclosed defendants (i.e. those with a presumed or possible interest in the property) entitled to any of those proceeds?

I would think not since their interest is extinguished by the judgment. And obviously there usually isn't any excess. But what if there are - who gets it?

Thanks for your insight.

Craig


Craig Blackmon, Attorney at Law
FSBO Law Center<http://fsbolawcenter.com>
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