Excess Proceeds Texas With Foreclosure Sale

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

Description

The Excess Proceeds Texas with Foreclosure Sale form is designed for the recovery of surplus funds resulting from a tax sale of real estate in Texas. This petition allows a petitioner to request the release of any excess proceeds after all debts owed on the property, including taxes and fees, have been settled. Key features of the form include the requirement to list the parties entitled to notice, the details of the property sold, and the specific excess amount being claimed. Filling out this form involves providing necessary information such as the petitioner's name, property details, and a description of the excess funds. Additionally, a notice of hearing must be included to inform involved parties about the scheduled court appearance. This form is particularly useful for attorneys, paralegals, and legal assistants working with clients who have sold properties at tax auctions and are seeking to reclaim owed excess proceeds. It serves to streamline the legal process of recovering money that rightfully belongs to the property owner.
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How to fill out Texas Petition For Release Of Excess Proceeds And Notice Of Hearing?

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FAQ

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.

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.

(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.

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.

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Excess Proceeds Texas With Foreclosure Sale