What are surplus funds?
Discover the money you didn't know was yours. Our mission is to help you understand and recover these funds, ensuring you don't navigate the complex legal process alone.
Understanding surplus funds
Surplus funds are money left over after a property is sold through a foreclosure or tax sale and the required debts, liens, costs, and expenses have been paid. This is the one thing you should remember about surplus funds.
An example to clarify
For example, if a property is sold for $250,000 and the amount required to satisfy the applicable debts and sale expenses is $200,000, there may be $50,000 in surplus funds remaining. Depending on the circumstances and the laws of the state where the property is located, these funds may be payable to the former property owner or another legally entitled party. In Florida, for example, state law defines surplus as funds remaining after the required disbursements in a foreclosure judgment have been paid.
Why do surplus funds go unclaimed?
Many property owners do not realize that money may remain after a foreclosure or tax sale. Others may not know where the funds are being held, how to make a claim, or what documentation is required. That's where we can help. Our team researches public records to identify potential surplus funds and guide you through the recovery process.
Ready to explore your options?
Don't let your unclaimed funds remain out of reach. Contact us today for a free consultation to see how we can assist you.