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(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.
In most states, a foreclosure ends with a public auction where the property is sold to a new owner. When a foreclosure sale results in surplus funds (money over and above what's needed to pay off all the liens on the property), this extra money belongs to you (the homeowner), not the lender.
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.
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.
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.