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What Are Surplus Funds?
Understanding your legal right to money from foreclosure and tax sales — and why it often goes unclaimed.
"I had no idea this money existed." — This is what most of our clients tell us when we first make contact. The funds were always there. They just needed someone who knew where to look.
Understanding Your Rights
The Money That Belongs to You
When a home is foreclosed upon or sold at a tax auction, the lender or government is entitled to recover only what is owed — the debt, interest, and fees. If the property sells at auction for more than that amount, the difference is called surplus funds.
These surplus funds belong to the former property owner — or in some cases, their heirs. However, the funds are held by the court clerk and will be escheated (forfeited) to the state if no claim is made within the statutory deadline.
📜 Governing Florida Statutes
- §45.032 F.S.Disbursement of surplus funds after judicial sale — Establishes who is entitled to surplus proceeds from a foreclosure sale and the process for filing a claim with the court.
- §45.033 F.S.Hearing on claims for surplus funds — Governs the court's procedure for adjudicating competing claims and disbursing surplus to rightful claimants.
- §197.582 F.S.Tax deed surplus distribution — Governs surplus funds generated from tax deed sales and the rights of former owners to claim the excess proceeds.
- §717.001 F.S.Florida Unclaimed Property Act — After a statutory period, unclaimed surplus funds are turned over to the state — making timely claims critical.
Who Qualifies
Do You Have a Claim?
You may be entitled to surplus funds if any of the following apply to you or your family:
Your home was foreclosed
If your property was sold at a foreclosure auction, surplus funds may remain unclaimed in the court registry.
Your property was sold at a tax auction
Tax deed sales frequently generate surplus proceeds that the former owner is legally entitled to claim.
You are an heir of a former owner
If the property owner has passed away, eligible heirs may still have the right to claim surplus funds through the estate.
The sale happened years ago
In many cases, surplus funds from sales that occurred several years ago remain unclaimed and recoverable.
Next Step
Ready to Find Out What You're Owed?
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