I have said it many times in previous blogs, timing is everything in surplus recovery. When a former owner should, as defined under Florida Statute 45.032 (1)(a), make their claim for Florida foreclosure surplus funds depends on each individual case. Read below on some factors I consider when deciding when is the best time to file my Florida owner’s claim to release surplus funds:
1) Are there other lien holders?
If there are other lien holders, you have competition. Florida Statute 45.032 (1)(b) states “A subordinate lienholder includes, but is not limited to, a subordinate mortgage, judgment, tax warrant, assessment lien, or construction lien.” Now, these subordinate lien holders are entitled to payment before a former owner, but they must make they claim timely and properly. Further, the type of lien generally will also dictate when I actually file the owner’s claim for surplus recovery.
2) Are there any other owners that may try and make a claim for the surplus funds?
Often, there are multiple former owners that may be entitled to the surplus funds. Sometimes these former owners are husband and wife, sometimes these are people that no longer are on good terms. I have represented a former owner and at the same time been able to keep the other owner from receiving surplus proceeds. This all depends on civil procedure and how we strategically file our motion to collect surplus funds. I have also filed joint claims for many families and been able to collect for all owners or heirs.
3) Will I have to wait the 60 day time frame after the certificate of disbursements is issued?
It depends. Florida Statute 45.032(3) states that the clerk shall hold the surplus funds for 60 days after the certificate of disbursements is issued. Yet, there are ways around this in certain circumstances. Most notably, I often inform the judge that there are no subordinate lien holders, and therefore Florida Statute 45.032 (3)(a) states the homeowner may receive the funds before the 60 day timeline, if a proper claim is filed.
There is a lot that goes into strategically planning on when to claim surplus funds. Sometimes you need to wait to the perfect time, other times you need to file fast. It’s all depending on each individual case.
My suggestion is to call me today if you have a Florida foreclosure surplus case. I will give you a free consultation and will not charge any fees unless I win your case! Call 1-888-252-8754 and I will personally answer.
Whether you need a Miami foreclosure surplus lawyer, Fort Lauderdale foreclosure surplus lawyer, Palm Beach foreclosure surplus lawyer, Tampa foreclosure surplus lawyer, Clearwater beach foreclosure surplus lawyer, Mount Dora foreclosure surplus lawyer, Dade city foreclosure surplus lawyer, Lake county foreclosure surplus lawyer, Tavares foreclosure surplus lawyer, Deland foreclosure surplus lawyer, Jacksonville foreclosure surplus lawyer, Saint Augustine foreclosure surplus lawyer, Sarasota foreclosure surplus attorney, Fort Myers foreclosure surplus lawyer, Destin foreclosure surplus Lawyer, Indian hills foreclosure surplus lawyer, Orlando foreclosure surplus lawyers, or a Volusia county foreclosure surplus attorney, we will represent parties in any county in the state of Florida!