Asset Recovery, Inc. v. Wells Fargo Bank, N.A.
After a foreclosure sale, the clerk issued a certificate of disbursements identifying $18,250.39 in surplus; 43 days later Wells Fargo moved for an additional $3,575.66 disbursement for post-judgment costs, which the trial court granted. The Sixth DCA reversed, holding that under section 45.031(7)(c) the remaining funds became 'surplus' once the ten-day objection period to the clerk's report expired without objection, and a foreclosing plaintiff is not among those entitled to surplus funds.
Key facts
- Asset Recovery, Inc. sought foreclosure of property; after the sale, the clerk issued a certificate of disbursements showing $18,250.39 in surplus funds.
- Forty-three days after the certificate issued, Wells Fargo moved for an additional $3,575.66 disbursement for post-judgment costs, and the trial court granted the motion.
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Why it matters
The opinion supplies a bright-line answer to a previously unsettled question — exactly when foreclosure sale proceeds become statutory 'surplus' — pegging it to expiration of the ten-day objection window under section… — full analysis with a trial
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