Jim, a Connecticut resident, ran a red light while he was vacationing in California and collided with Amanda's car. Amanda suffered extensive injuries from the accident and successfully sued Jim for $200,000 in a California state court. The California court exercised quasi in rem jurisdiction over Jim's California vacation home by seizing it and selling it for $300,000. What must the court do with the excess proceeds?

Question

Nylah House

Business

29 August, 03:32

Jim, a Connecticut resident, ran a red light while he was vacationing in California and collided with Amanda's car. Amanda suffered extensive injuries from the accident and successfully sued Jim for $200,000 in a California state court. The California court exercised quasi in rem jurisdiction over Jim's California vacation home by seizing it and selling it for $300,000. What must the court do with the excess proceeds?

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Bridget · Answer 1

Answer: The court must return the excess proceeds to Jim.

Explanation: The excess money left after a property is sold and the debt owe is paid off is termed surplus and it is usually given to the owner of the property sold.