Florida Foreclosure Surplus Funds: What Can Happen If There Are Multiple Heirs Claiming Surplus Funds?

Haynes Law Group

You may be reading this article as one of many heirs of a deceased homeowners estate looking to file a claim for Florida foreclosure surplus funds, after the Florida foreclosure auction of the deceased homeowners property, and want to know what will happen if the other heirs to the estate file a claim too.

Let us begin with the fact that Fla. Statute 45.033(2)(b) states that an heir of an estate can file a claim for the deceased homeowner’s foreclosure surplus funds if the “grantee or assignee” can prove “that the grantee or assignee is a grantee or assignee by virtue of an involuntary transfer or assignment of the right to collect the surplus. An involuntary transfer or assignment may be as a result of inheritance or as a result of the appointment of a guardian.” Therefore, meaning that as long as an heir can prove that they are, in fact, an heir of the deceased former homeowner then they may file a claim for said surplus funds.

However, if there are multiple heirs, who feel that they are entitled to the surplus funds, and they all file a claim for said funds it is entirely likely, according to Fla. Statute 45.032(3)(b), that the Judge will set an “evidentiary hearing” in order to determine the order of entitlement for each heir to the surplus funds. Should a Judge set an evidentiary hearing, the heirs making a claim to the Florida foreclosure surplus funds can expect this process to take much longer. At the evidentiary hearing, “the court shall consider the factors in s. 45.033 when hearing a claim that any person other than a subordinate lienholder or the owner of record is entitled to the surplus funds.” Meaning that the Judge will hear and review each heir’s claim to the surplus funds and will then decide how to disburse said funds, whether in whole or in part, to each heir should they qualify for a disbursement.

Not so fast though, if there is a subordinate lienholder who has filed a timely claim for a portion of the Florida foreclosure surplus funds, then they too will receive a disbursement of said funds at the evidentiary hearing. For more on subordinate lienholders and how they may affect your claim to Florida Foreclosure surplus funds, please refer to my blog titled: How Subordinate or Junior Lienholders Can Affect The Disbursement Of Florida Foreclosure Surplus Funds.

If you are an heir of a former deceased homeowner’s estate I highly recommend consulting with an experienced Florida foreclosure surplus funds recovery Attorney to help you with the filing of your claim. By hiring an experienced Florida foreclosure surplus funds recovery Attorney, you will also ensure that your rights and claim to the surplus funds are defended especially in the event that an evidentiary hearing is set in your case.

At Haynes Law Group, P.A., we have experienced Attorneys who are well versed in the Florida Statutes governing former Florida homeowners claims to Tax Deed foreclosure surplus funds, and have helped to claim hundreds of thousands of dollars for former Florida homeowners. We represent former homeowners all over the state of Florida, no matter what county they are in, and will work tirelessly to ensure that you receive the Gold Standard of Legal Service. Best of all, we represent our Clients on contingency which means we don’t get paid unless you do!

Categories: 
Related Posts
  • True Stories of Foreclosure Surplus Recovery Businesses Episode 2 Read More
  • Florida Foreclosure Sale Surplus Funds – What are Surplus Funds Exactly and Are you Eligible to Receive Them? Read More
  • Florida Foreclosure Surplus Funds: When, and Why Former Homeowners Contact an Attorney Read More
/