- Who sends it
- The trustee files it with the county clerk where the deed of trust was first recorded; you can ask for a copy
- What it starts
- Your chance to check the math and ask for any surplus; a 1-year limit to sue over notice or procedure defects runs from the sale
- Do this first
- Ask the county clerk for a copy and write to the trustee about any surplus
What this document is in West Virginia
W. Va. Code § 38-1-8 says that within two months after a sale under a trust deed, the trustee must return "an inventory of the property sold and an account of the sale" to the clerk of the county where the deed of trust was first recorded. A trustee who fails to do this forfeits the commission.
If the home was, or was intended to be, your residence when you signed the deed of trust, W. Va. Code § 38-1-8a adds a disclosure form to the report of sale. It must list, among other things:
- The trustee's address, phone number and electronic contact information.
- The date, time and place advertised for sale, and the date, time and place of the sale.
- The current holder of the deed of trust and its address.
- The total secured debt at the time of sale and the number of months delinquent at the time of the notice of sale.
- The name of the buyer and the net amount applied to the loan.
What it does and does not mean
- The trustee must pay the costs of the sale first, including a commission of 5 percent on the first $300 and 2 percent on the rest, then the debts secured, and "shall pay the surplus, if any, to the grantor" or the grantor's heirs or assigns (W. Va. Code § 38-1-7(a)).
- A missing disclosure form does not by itself undo the sale (W. Va. Code § 38-1-8a(e)).
- If the sale brought less than you owed, the lender can sue for the rest, and you cannot defend by saying the home sold below fair market value if the sale followed the law (W. Va. Code § 38-1-7(b)). See deficiency judgments in West Virginia.
- It does not remove you from the home. See the unlawful detainer summons.
The deadlines that matter and how to count them
- Report due: within two months after the sale date (W. Va. Code § 38-1-8).
- Challenge to the sale: within one year from the sale date for a notice or procedure failure, if you were given the required notice (W. Va. Code § 38-1-4a).
- Surplus: the statute sets no claim form or deadline. Ask in writing as soon as you can and give a current address.
What to do this week
- Ask the county clerk where the deed of trust was first recorded for the report of sale.
- Compare the sale price with the total debt and costs. If the price was higher, write to the trustee at the address on the disclosure form and ask for the surplus and a full accounting.
- Check the commission against the 5 percent and 2 percent rule in § 38-1-7(a).
- If you think the sale was done wrong, call Mountain State Justice at 304-344-3144 well before one year has passed.
- Read what happens after a West Virginia foreclosure sale.
State help and scam warnings
Surplus belongs to you by statute. You can ask the trustee directly, and you do not need to pay a recovery company. More contacts are on the West Virginia foreclosure help page.
- Be careful with anyone who contacts you after a sale offering to recover money for a large share.
The rest of the West Virginia process
See how foreclosure works in West Virginia, the timeline, ways to stop it and free help in West Virginia, or read the national guide to this letter.
Common questions
How do I find out what my West Virginia home sold for?
The trustee must file an inventory and account of the sale with the county clerk within two months (W. Va. Code § 38-1-8). For a home you lived in, the disclosure form shows the debt and the net amount applied to the loan (§ 38-1-8a).
Who gets extra money from a West Virginia trustee's sale?
After sale costs and the secured debts, the trustee must pay the surplus to the grantor on the deed of trust, or the grantor's heirs or assigns (W. Va. Code § 38-1-7(a)).
What if the trustee never files the report?
The trustee forfeits its commission, which the grantor can sue to recover (W. Va. Code § 38-1-8). Ask a lawyer about your options.
Other West Virginia letters
- Notice of Consumer's Right to Cure DefaultOn a consumer loan, West Virginia law says the lender cannot accelerate the loan or move against your home until 10 days after it gives you a written notice of your right to cure. Until then you can catch up by paying only the unpaid amounts due, without the whole loan being called due.
- Notice of Trustee's SaleIn West Virginia, the trustee under your deed of trust sells the home without a court case after publishing a notice of sale once a week for two weeks in a row and mailing you a copy by certified mail. The notice gives the time, place and terms of the sale. There is no right to buy the home back afterward, so act before the sale.
- Unlawful detainer summons (after a trustee's sale)If you stay in the home after a West Virginia trustee's sale, the buyer can sue in circuit court to recover possession. The summons must be served at least 10 days before its return day. You can appear, plead not guilty and ask for a jury. These cases go ahead of other civil cases, so act the day you are served.
- Notice to Redeem (tax lien sale)If the tax lien on your West Virginia property was sold, the buyer can ask the State Auditor to send you a Notice to Redeem. It shows the exact amount to pay and the date on or after which a tax deed can be made. You can redeem by paying the Auditor any time before the deed is issued, and in installments if the home is your primary residence.