Court and Trust
Court & Trust Funds
Monies paid to the courts for legal matters are held in an interest-bearing Treasurer’s trust account. Deposits and withdrawals of court funds can only be made through court orders. If funds are not claimed after three (3) years, they are sent to the NYS Comptroller’s Office of Unclaimed Funds as abandoned property.
Funds can be deposited with the Treasurer only by order of the court. You may deposit funds by submitting a copy of the court order directing the payment along with the check(s) made payable to the Nassau County Treasurer. Most court deposits must be filed through the Nassau County Clerk, who then deposit the funds with the Treasurer. Only foreclosure surplus funds are directly deposited with the Treasurer’s Office. Surplus funds deposits can be made by mail, all other court deposit filings must be made in person at the Clerk’s Office.
All withdrawals of monies deposited into court, which are forwarded to the Nassau County Treasrer, can only be made by submitting a certified copy of a court order specifically directing such payment (ref. CPLR 2606, 2607; see also 8010). Wording must include verbiage which directly order the Nassau County Treasurer to disburse funds to a specified person(s) or entity(ies), list award amounts (in order of priority for multiple recipients) and detail contact information of each payee so we may properly deliver payment once processed. Payment will be made by check written verbatim as prescribed in the order. A cover letter is also encouraged when delivering by mail if special conditions exist for delivery of payment. Arrangements can also be made to pick up the payment in person.
Lawful fees due the Treasurer:
As per New York State Law CPLR §8010 “The treasurer of a county or the commissioner of finance of the city of New York is entitled for the services specified to the following fees: 1. two per cent upon a sum of money paid out of court by him…”. The fee is deducted from any withdrawal amount whether or not prescribed for in the order.
Sources of Court & Trust Funds:
- Foreclosure Surplus
- General Guardianship
- Executor and Administrator
- Dissolution of Corporation
- Deposit in Lieu of Undertaking in Appeal
- Cancellation of Lis Pendens
- Deposit of Money with Clerk to Discharge Judgment
- Deposit of Money with Clerk to Discharge Mechanic’s Lien
- Security for costs
David Y. Chiang