FAQs
What are surplus funds in a foreclosure or tax sale?
Surplus funds are the leftover money after a property is sold at auction for more than what was owed in taxes, mortgage, or fees.
Who is legally entitled to surplus funds?
The former homeowner or, if they have passed away, their heirs are typically entitled to claim the remaining funds.
How do I know if surplus funds exist for my property?
You won’t get a call from the county. The only way is to check court and trustee records or work with a professional who monitors auctions and filings.
Where are surplus funds kept after an auction?
They are usually held by the Government Agencies like court clerk, county treasurer, or trustee until a valid claim is filed.
Do surplus funds expire if I don’t claim them?
Yes. Most states set deadlines that can range from months to a few years. If you miss the window, you lose the right to recover the money.
Can liens or judgments affect my surplus claim?
Yes. If there are other debts attached to the property, those creditors may be paid before you receive anything in the scenerio where you are going by yourself, We assist homeowners file for what they owe and use legal methods to get the max amount of surplus possible to our clients.
Can I claim surplus funds on my own?
Yes, but the process involves legal filings, motions, and deadlines that are easy to get wrong without experience. Many families end up stuck or denied.
Why didn’t the county notify me about surplus funds?
Counties are not required to chase down homeowners. They publish notices or hold the funds quietly in court records, often going unclaimed.
How long does it take to recover surplus funds?
It varies by state and court backlog, but most cases take anywhere from 90 days to over a year, depending on complexity.
What happens if multiple heirs are involved?
The case may go through probate court to determine legal heirs, which can extend the process.
What happens if I already filed a claim and was denied?
Most denials happen when people try to file on their own and don’t include all the required documents & they end of thinking that claim was never there. A denial doesn’t always mean it’s over, though. In many cases, you can appeal or refile, but it has to be done with the right legal grounds and proper documentation to move forward & thats what we assist people with at no upfront cost.
Do attorneys charge upfront fees to help with surplus funds?
Yes. Most of the attorneys require retainers before starting the case, this is where we come in and pay for the attorney upfront so there would be zero risk to you, we work on your behalf and get all the paperwork to attorney for them to file and get the funds over to you at a minimal contingency fee which is only liable if and when we recover funds for you
(No Recovery = No Fee)
Can creditors take all of the surplus funds?
In some cases, yes. If your debts exceed the surplus, you may not receive anything. A review of liens and judgments will clarify your situation & thats why we dont charge anything upfront unlike attorneys.
What if I’ve moved since the foreclosure?
Your change of address doesn’t cancel your right to the funds. The challenge is proving ownership and connecting your name to the case.
What happens to unclaimed surplus funds after the deadline?
They are typically forfeited to the state or county, and once that happens, they can no longer be recovered.