Surplus funds from New Jersey foreclosure sales are held by the Superior Court Trust Fund pending distribution to those legally entitled to receive them. To verify a deposit, use the New Jersey Courts’ Trust Fund contact information. Funds on deposit for ten years without activity are subject to transfer to the State’s Unclaimed Property Administration under N.J.S.A. 46:30B-41; the transfer does not extinguish the rightful owner’s ownership.
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:
Use the New Jersey Courts’ Trust Fund contact information for the Trust Fund Unit’s telephone and email details.
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.
Transfer After Ten Years Without Activity: N.J.S.A. 46:30B-41
Under N.J.S.A. 46:30B-41, funds remaining on deposit with the Superior Court Trust Fund for ten years without activity are presumed abandoned and transferred to New Jersey’s Unclaimed Property Administration. This is a transfer of custody, not an automatic forfeiture of the rightful owner’s property.
After transfer, recovery generally proceeds through the Unclaimed Property Administration rather than withdrawal from the court’s Trust Fund. The owner retains the right to submit a valid claim and must establish entitlement through the applicable process. The State’s unclaimed-property guidance confirms that ownership is not lost merely because funds are transferred.
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 using the New Jersey Courts’ Trust Fund contact information to verify the deposit and current balance. If the funds have been transferred, inquire with the Unclaimed Property Administration about its claim procedure.
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.