Excess Proceeds From Foreclosure Sale Texas

State:
Texas
Control #:
TX-03500BG
Format:
Word; 
Rich Text
Instant download

Description

The Petition for Release of Excess Proceeds is a form used in Texas to claim excess funds from a tax sale of real property, as outlined under Section 34.04 of the Texas Property Tax Code. It serves as a formal request to the court for the release of surplus proceeds after ensuring all delinquent taxes and associated fees have been paid. The form includes sections to provide the petitioner’s details, property information, and serving notice to relevant parties. Users must clearly fill in information such as the judicial district, names of parties, and financial amounts related to the excess proceeds. The form also requires a notice of hearing to ensure all involved parties are informed about the petition proceedings. This form is especially useful for attorneys, paralegals, and legal assistants who assist clients in recovering funds after a foreclosure sale. Practitioners should ensure accurate and complete information is provided to avoid delays in processing the petition.
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How to fill out Texas Petition For Release Of Excess Proceeds And Notice Of Hearing?

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FAQ

EXCESS PROCEEDS RULES Tax delinquent properties are sold in a Tax Foreclosure sale each month in each Texas county. If the property is sold for more than the amount of taxes owed the various taxing agency, the excess amount remains in the county unless the previous owner petitions for their money.

1. Excess Proceeds: If more than $25 is left from the foreclosure sale of your home after the lien and any costs are paid, you are entitled to claim that money. 2. Time Limits: You must file a claim for excess proceeds within two years of the sale of the property.

How to Claim Excess Tax Funds Gather the Required Documents. There are a number of documents that you'll need to gather and submit along with your claim form. ... Complete the Claim Form. Once you have your documents gathered, you can fill out the claim form. ... Submit Your Claim.

(i) A fee charged by an attorney to obtain excess proceeds for an owner may not be greater than 25 percent of the amount obtained or $1,000, whichever is less. A person who is not an attorney may not charge a fee to obtain excess proceeds for an owner.

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Excess Proceeds From Foreclosure Sale Texas