EMERGENCY MOTION TO PRESERVE FORECLOSURE SALE SURPLUS AND ORDER NON-DISBURSEMENT PENDING REVIEW
STATE OF INDIANA ) ) SS: IN THE MARION SUPERIOR COURT 3 COUNTY OF MARION ) CAUSE NO. 49D03-2501-MF-002559
FINANCIAL CENTER FIRST CREDIT UNION, Plaintiff,
v.
CODY RICE-VELASQUEZ, Defendant.
Defendant, Cody Rice-Velasquez, respectfully moves the Court for an emergency order preserving any surplus proceeds arising from the Sheriff’s Sale and ordering non-disbursement pending jurisdictional review.
1. LEGAL BASIS
Indiana Code § 32-30-10-14 requires that when foreclosure sale proceeds exceed the judgment, costs, and taxes, the surplus must be paid to the Clerk of the Court for transfer to entitled parties as ordered by the Court. The Default Judgment and Decree in this case contemplates such surplus handling.
2. NEED FOR IMMEDIATE PRESERVATION
The Sheriff’s Deed dated December 3, 2025 reflects a stated consideration of 220,863.09), subject to calculation of allowable costs and taxes. Defendant does not concede the accuracy of any amount and expressly requests calculation and verification by sworn accounting. Disbursement of any excess funds before resolution of jurisdictional defects would cause irreparable financial harm and create a second independent injury.
3. REQUESTED RELIEF
Defendant respectfully requests that the Court: A. Order immediate non-disbursement of any surplus funds; B. Direct the Clerk to hold all excess proceeds pending further order; C. Require Plaintiff to file a sworn accounting within ten (10) days detailing: (i) Sale proceeds or credit bid amount; (ii) Costs, taxes, and fees applied; (iii) Calculation of any surplus; D. Order notify Defendant prior to any proposed transfer or disbursement.
Defendant files this motion while actively seeking counsel and requests that any technical defects be liberally construed in favor of preserving property rights.
Respectfully submitted,
/s/ Cody Rice-Velasquez
Pro Se Defendant
Email: crice4485@gmail.com
Phone: 317-205-4383