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Florida Foreclosure Surplus Funds: Can I File a Claim If I am an Heir to the Deceased Borrower?

Recently, I’ve taken several consultations with prospective clients who are the heirs to a deceased borrower, whose property has been sold at Florida foreclosure auction. Usually, these heirs are calling because they want to know whether they are legally able to file a claim for the surplus funds being held by the Court. The answer to this question is yes; heirs are able to file a claim for a portion, or the entirety, of the surplus funds being held in the Court registry. Florida Statute 45.033(b) states” [t]he grantee or assignee proving 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.”

If you are an heir of a deceased borrower looking to file a claim for Florida foreclosure surplus funds, then I strongly advise that you speak with an experienced Florida foreclosure surplus funds recovery attorney before filing a pro se claim. I say this because an experienced attorney can give you an overview of the case as well as advise you of your rights as they pertain to the surplus funds. Furthermore, the attorney can advise as to whether a probate or evidentiary hearing will be required by the Judge. Should a probate or evidentiary hearing be required in your case, then it can delay the time it takes for the proceeds to be disbursed to the appropriate parties. In the event that a Judge requires a probate or evidentiary hearing to be conducted, it should not worry the heirs as the Court utilizes these measures to ensure that said funds are going to the appropriate parties in accordance with the Law. However, oftentimes, an experienced surplus funds recovery attorney is able to circumvent the need for a probate and/or evidentiary hearing depending on the case. Every surplus funds case is different, especially when it comes to the heirs of a deceased borrower filing a claim for the surplus funds being held. Thus, why I always recommend that the heirs of a deceased borrower speak with an experienced attorney first.

Moreover, if an heir is contacted by a Third-Party Surplus Funds Recovery Company. The best thing they can do is to hang up or ignore them and to speak with an experienced attorney right away. These companies are often a nuisance and will stop at nothing when it comes to getting an heir (or heirs) to them so they can “recover” the surplus funds. However, it is important to know that in order for these companies to even attempt to recover said funds; they must have an heir sign what is known as an “Assignment of Interest.” An Assignment of Interest essentially takes away the heir’s rights to the surplus funds and assigns them to the third-party company, who will then turnaround and hire their own Attorney to appear in the case; and represent the company’s best interests as they pertain to said funds rather than the heirs. Hence, another reason why I strongly advise that an heir, or heirs, of a deceased borrower seeking to file a claim for surplus funds always speak with an experienced attorney prior to hiring one of these sleezy companies.

Lastly, if you are an heir of a deceased borrower and have been notified of surplus funds being held in the Court registry after the Florida foreclosure auction of the deceased borrower’s 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 said funds.

At Haynes Law Group, P.A., we have experienced attorneys who are well-versed in the Florida statutes governing heirs to a deceased borrower’s claims to Florida foreclosure surplus funds and have helped to recover hundreds of thousands of dollars for the heirs of deceased borrowers. We represent clients 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.