If you’re reading this, it is likely because you’ve recently been notified of surplus funds that may be available after the recent Florida tax deed foreclosure sale of your Florida property and may be wondering what they are. Before we discuss what your next steps should be, please allow me to provide a brief explanation of what Florida Tax Deed foreclosure surplus funds are.
In Florida, tax deed foreclosure surplus funds are the funds that are remaining (and that have not been distributed) after the tax deed foreclosure sale of a Florida property, and that have been retained by the clerk of court for the benefit of the legal titleholder of the subject property, per Fla. Statute 197.502(2). For example: If there is a tax certificate, or lien, for a Florida property in the amount of $5,000, and the subject property is sold at a Florida tax deed foreclosure sale for $80,000, then there will be a surplus in the amount of $75,000!
Now that you know what Florida tax deed surplus funds are, if you’ve been notified of said surplus funds by a third-party surplus funds recovery company, then I strongly advise that you contact an experienced Florida foreclosure surplus funds recovery attorney right away. If you’ve received an agreement, or document, from one of these companies, then I strongly advise that you DO NOT sign it until you’ve had a chance to speak with an attorney to discuss your rights as they pertain to the surplus funds. Oftentimes contained within these “agreements” are what are known as an “Assignment of Interest.” An “Assignment of Interest” is used to assign away or transfer one’s rights or interests in a particular matter; in this case surplus funds, to another party. Ergo, when you sign an “Assignment of Interest” you are effectively assigning away your rights to the surplus funds over to a third-party company. Once you assign away your rights, it can be difficult to regain them and usually requires the agreement of the third-party company. Oftentimes, to get the third-party company to agree to waive their agreement and/or the Assignment of Interest, they will require a percentage of the surplus funds.
Moreover, it is important to know that when you hire a third-party surplus funds recovery company, they will then hire their own attorney to recover said surplus funds from the Court. This attorney that the third-party company hires will solely be representing the interests of the third-party company rather than yours as the former homeowner. Where, on the other hand, if you contact and hire an experienced Florida foreclosure surplus funds recovery attorney directly, you can be sure that they are working to protect your best interests as they pertain to the surplus funds.
Thus, if you are a former Florida homeowner looking to recover surplus funds after the recent tax deed foreclosure sale of your Florida property, then please give me a call and I will personally give you a free consultation. During our consultation, I will confirm whether there are surplus funds available to be recovered as well as answer any questions that you may have. If there are surplus funds available to be recovered, then I will also provide you with a personalized strategy as to how we can assist you with the recovery of YOUR surplus funds.
At Haynes Law Group, P.A., we have experienced attorneys who are well-versed in the Florida statutes governing former Florida homeowners’ claims to Florida foreclosure surplus funds and have helped to recover millions of dollars for former Florida homeowners. We represent former homeowners all over the state of Florida, no matter which county they are in, and will work tirelessly to ensure that you receive the Gold Standard of Legal Service.