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Surplus Funds and Property Partitions

Take Control of What is Rightfully Yours

Surplus Funds

Foreclosure by the bank or local government is often the result of failure or inability to pay taxes on your home. Many homeowners do not realize that the foreclosure process often results in additional money (“Surplus Funds”) being returned to the courts in their name. In order to gain access to these Surplus Funds, the homeowner has to petition the courts. When you have just lost your home to foreclosure, Surplus Funds can make a big financial difference.

At Stott, Hollowell, Windham & Stancil, PLLC, we have experience helping homeowners through the process of retrieving their Surplus Funds. We can help you:

  • Conduct a Title Search to determine your eligibility
  • File a Petition For Surplus Funds
  • Submit the Right Documentation
  • Notify Everyone Involved
  • Represent You At the Trial For Your Surplus Funds
  • Make Sure You Get Access To Them!

Property Partitions

Most parents pass their property, including their home or vacation house, down to all of their children. This creates several Joint Owners. When one Joint Owner wants to sell or get rid of their share of the property, a Property Partition begins in North Carolina. There are two main kinds of Property Partitions:

  • Partition in Kind, when the property is physically divided amongst the Joint Owners so that everyone owns a different portion. This works most often for businesses with different locations or homeowners with multiple vacation homes.
  • Partition By Sale, when the property is sold and the money earned is divided among the Joint Owners. Partition By Sale proceeds are divided equitably, not equally, so if someone has put more money into the property, they may get more back. This is most common for Joint Owners on a single property.

At Stott, Hollowell, Windham & Stancil, PLLC, we have experience helping Joint Owners through both types of Property Partitions to get what they want most out of their property.

Get the Help You Need

When you have just gone through a foreclosure on your home, getting access to Surplus Funds can change your life. When you are a Joint Owner on a property that you or a loved one wants out of, we can help arrange a Property Partition that makes everyone happy. At Stott, Hollowell, Windham & Stancil, PLLC, we help you take control of what belongs to you. Contact us today if you need help!