The questions people ask after a sale.

FAQ

Questions and answers

What are surplus funds?

When a property is sold at a foreclosure or tax deed auction, the sale sometimes brings in more than what was owed on the judgment or the taxes, plus the costs of the sale. The extra money is the surplus. It is deposited with the clerk of court, and Florida law says who may claim it and how.

What is the difference between a foreclosure surplus and a tax deed surplus?

A foreclosure surplus comes from a court case, usually brought by a lender or an association, and is governed by Florida Statutes § 45.032 and § 45.033. A tax deed surplus comes from a sale for unpaid property taxes and is governed by Florida Statute § 197.582. The money is held by the clerk in both cases, but the claim process and the deadlines differ. If you are not sure which kind of sale it was, the clerk can tell you, and so can we.

Who can claim the surplus?

In a foreclosure, people with a recorded lien that was junior to the foreclosing one may claim first, if they file in time. After that, the owner of record, generally the person who owned the property when the case was filed, is presumed to be entitled to what is left. Tax deed surplus works in a similar order: recorded lienholders, then the former owner. Who is actually paid depends on the record in your case.

The owner has died. Can the family claim it?

Often, yes. When the owner of record has died, the right to the surplus generally belongs to the estate, and the claim is made on the estate’s behalf. What the court requires varies: sometimes a death certificate and documents showing who the heirs are; sometimes an estate has to be opened in probate first, and when that requires an attorney we work with Florida counsel. We explain what the record shows. We do not give legal advice about who inherits.

How long do I have to claim?

For a foreclosure sale, Florida Statute § 45.032 gives the owner of record a window to claim the surplus, generally 60 days after the sale. Check the clerk’s notice for your case, because the date that counts is the one in your file. Tax deed surplus has its own deadline under § 197.582. Missing a deadline may forfeit a claim. If a window has passed, ask the clerk what happened to the funds before assuming they are gone.

How long does it take to get paid?

Weeks to months. A simple claim, where you are the owner of record, no one else has filed, and the clerk has everything it needs, can be paid in weeks. It takes longer when other parties claim the same money, when a court hearing is needed, or when the claim runs through an estate. We tell you what we see in your case and keep you informed as it moves.

What does it cost to work with you?

Nothing up front, and nothing at all unless money is recovered. Our fee is stated in a written agreement you sign before anything is filed, and it is paid only from funds the clerk actually disburses. If nothing is recovered, you owe nothing. We do not publish a fee here because it depends on the case; it will be in the agreement, in plain terms, before you decide.

Can I claim the surplus myself?

Yes. You may be able to claim surplus funds yourself, directly from the clerk of court, at no cost. Call the clerk in the county where the property sold, give them the address or case number, and ask what form to file and by when. You do not need Surplus Funds USA or any other company to do this. We are here if you would rather have someone handle it, or if the case is complicated.

Why am I getting letters from companies I have never heard of?

A foreclosure or tax deed sale is a public record, and so is the surplus it leaves. Companies read those records and write to the people named in them. We are one of them, which is probably how you found this page. Some of the others are not honest. Judge any letter, including ours, by the same test: no payment up front, the fee in writing before anything is filed, a real company you can look up on Sunbiz, and the reminder that you can always go to the clerk directly.

Is this a scam?

It is fair to ask; this space has plenty of them. Here is how to check. Surplus Funds USA, LLC is a Florida company you can look up at search.sunbiz.org, with an office at 801 Northpoint Parkway, Suite 141, West Palm Beach, and part of the Caliber Trust family. We never ask you to pay anything up front. Everything we would do for you is in a written agreement before it starts. And you can skip us entirely and call the clerk of court about your case. We would rather you verify than trust.

What documents will I need?

Usually proof of who you are, such as a government photo ID, and something that ties you to the property, such as the deed or the sale notice. If you are claiming for someone who has died, the court will typically want a death certificate and documents showing who the heirs are, and sometimes probate papers. The clerk sets the exact requirements for each case; we help you gather what is asked for.

The mortgage company took the house. Is there still a surplus?

Sometimes. A surplus exists only if the winning bid at the auction was higher than the judgment plus costs. When the lender itself is the winning bidder at the amount of its judgment, there is usually no surplus. When a third party outbids the lender, there may be. The clerk’s registry for your case will show whether anything was deposited, and that is the first thing we check.

A second mortgage or the HOA is also claiming. Do they get paid first?

They may. Under § 45.032, lienholders whose recorded liens were junior to the foreclosing lien may claim the surplus ahead of the owner, if they file within the statutory window. What is left after valid lienholder claims goes to the owner of record. Whether a particular lien is valid and timely, and how much is owed on it, can be disputed, and that is one of the situations where a court hearing may be needed; if so, we work with Florida counsel, and you may want independent legal advice of your own. We tell you what the record shows; the court decides.