When a property is sold at foreclosure or tax deed auction in Florida, the final sale price sometimes exceeds the amount owed on the mortgage, taxes, or liens. The extra money remaining after those debts are paid is called surplus funds.
Many former property owners are unaware that they may still be entitled to recover these funds.
Foreclosure Surplus Funds in Florida
During a foreclosure auction, a property may sell for more than the amount owed on the mortgage and court judgment. When this occurs, the remaining balance is called foreclosure surplus funds.
Under Florida Statute 45.032, eligible parties may file a claim to recover these funds through the court.
Tax Deed Surplus Funds
Tax deed sales occur when property taxes remain unpaid and the property is sold at auction. If the property sells for more than the taxes, interest, and costs owed, the remaining funds are called tax deed surplus funds.
Under Florida Statute 197.582, eligible parties may submit a claim through the county clerk to recover these funds.
Who Can Claim Surplus Funds
Former property owners
Heirs of the property owner
Lienholders
Other parties with a legal interest in the property
Check If You May Be Owed Surplus Funds
If your property was sold at foreclosure or tax deed auction in Florida, you may still be entitled to recover surplus funds.
Submit your property address or owner information for a free surplus funds review.