Today, we will be discussing whether a former Homeowner who sold a property to a new owner, who then went into foreclosure, can claim surplus funds resulting from the foreclosure auction of said property. First and foremost, for those reading who do not know what surplus funds are: surplus funds are “the funds remaining after payment of all disbursements required by the final judgment of foreclosure and shown on the certificate of disbursements,” as defined by by Florida Statute 45.032(1)(c). According to Florida Statute 45.032(2), “[t]here is established a rebuttable legal presumption that the owner of record on the date of the filing of a lis pendens is the person entitled to surplus funds after payment of subordinate lienholders who have timely filed a claim.” An owner of record is defined by Florida Statute 45.032(1)(a) as “the person or persons who appear to be owners of the property that is the subject of the foreclosure proceeding on the date of the filing of the lis pendens.” Therefore, as the former homeowner who sold the subject property to the new homeowner, who went into foreclosure, you are not eligible to filing a claim for the surplus funds as you were not the legal titleholder and/or owner of the property at the time the foreclosure action was filed.
Moreover, if you receive a call from one of those pesky Third-Party Surplus Funds Recovery Companies advising that you are eligible to file a claim for surplus funds, please beware. Further, please contact an experienced Florida Foreclosure Surplus Funds Attorney right away. By speaking to an attorney, you can confirm whether you are eligible to file a claim for said funds. Additionally, you can gain a better understanding of your rights as they pertain to said surplus funds.
If you have been notified that there are surplus funds available after the Florida foreclosure auction of a property or if your Florida property has been sold at Florida foreclosure auction and would like to know whether you are eligible to file a claim and/or whether there are surplus funds available to be claimed; 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 whether you are eligible to file a claim for said surplus funds. 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 Florida foreclosure surplus funds.
At Haynes Law Group, P.A., we are well-versed in the Florida statutes governing 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.