Surplus funds from New Jersey foreclosure sales are held by the Superior Court Trust Fund, administered by the Trust Fund Unit in Trenton. You can verify whether funds are being held by contacting the Trust Fund Unit at 609-421-6100 or [email protected]. Under N.J.S.A. 46:30B-41, unclaimed funds escheat to the state after 10 years.
What Is the Superior Court Trust Fund?
The New Jersey Superior Court Trust Fund is the repository for all monetary deposits made with the court system, including surplus funds generated by foreclosure sheriff’s sales. When a property is sold at sheriff’s sale and the proceeds exceed the total amount of the foreclosing party’s judgment, the excess is deposited into the Trust Fund, where it is held in an interest-bearing account pending distribution by court order.
The Trust Fund is not a discretionary fund or a government program — it is simply a custodial account maintained by the court to hold funds until the court determines who is legally entitled to receive them.
How Money Gets from the Sheriff’s Sale to the Trust Fund
After a sheriff’s sale is conducted in New Jersey, the county sheriff collects the sale proceeds and applies them first to the foreclosing party’s judgment. Any excess — the surplus — is then transferred to the Superior Court Trust Fund. This transfer process can take up to two months after the date of the sheriff’s sale. During this period, the funds are in transit from the county sheriff’s office to the Trust Fund Unit in Trenton.
It is important to verify that the funds have actually been deposited before filing a motion for distribution. Filing prematurely, before the funds appear in the Trust Fund, can result in unnecessary delays.
The Trust Fund Unit in Trenton
The Superior Court Trust Fund is administered by the Trust Fund Unit, which is part of the Administrative Office of the Courts. The Trust Fund Unit processes all deposits, disbursements, and inquiries related to funds held in trust by the Superior Court.
Contact Information:
Phone: 609-421-6100
Email: [email protected]
Location: Richard J. Hughes Justice Complex, Trenton, NJ
The Trust Fund Unit can confirm whether surplus funds from a specific foreclosure case have been deposited, provide the exact amount on deposit, and issue a verified statement of account that is required as part of any motion for distribution of surplus funds.
Interest-Bearing Accounts
Funds held in the Superior Court Trust Fund earn interest while on deposit. The interest accrues to the account associated with the specific case, and when the court orders distribution of the surplus, the disbursement includes any accrued interest. The interest rate is determined by the court system and may vary.
The 10-Year Escheatment Rule: N.J.S.A. 46:30B-41
Under New Jersey’s Uniform Unclaimed Property Act, specifically N.J.S.A. 46:30B-41, funds deposited with the court that remain unclaimed for 10 years are subject to escheatment — meaning they are transferred to the State of New Jersey as unclaimed property. Once funds escheat, the process for recovering them becomes significantly more complicated and may involve filing a claim with the State’s Unclaimed Property Administration rather than through the Superior Court.
This 10-year window is an important deadline. While it provides a reasonable period to file a claim, delay can result in complications, additional procedural hurdles, or, in the worst case, permanent loss of the funds to the state.
How to Check If Funds Are Being Held
If you believe surplus funds may exist from a foreclosure sale involving your property, you can take the following steps to determine whether funds are being held:
Contact the county sheriff’s office where the property was located to obtain documentation of the sale results, including the surplus amount.
Contact the Superior Court Trust Fund Unit at 609-421-6100 or [email protected] to verify whether the surplus has been deposited and to obtain the current balance, including accrued interest.
An attorney experienced in surplus funds matters can conduct these inquiries on your behalf and advise you on the next steps for recovering the funds.
Contact Friscia & Associates
If you need to determine whether surplus funds are being held from a foreclosure sale of your New Jersey property, or if you need assistance recovering funds from the Superior Court Trust Fund, contact Friscia & Associates. We handle the entire process — from verifying the deposit to filing the motion and obtaining the court order for disbursement.
Call us today at (973) 500-8024.
This page is for informational purposes only and does not constitute legal advice.