Petition For Excess Proceeds For Withdraw

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

Description

The Petition for Excess Proceeds for Withdraw is a legal document used in Texas to request the release of surplus funds resulting from a tax sale of real property. This form is essential for petitioners, usually property owners or their representatives, seeking to claim excess proceeds after the sale. Key features of the form include sections for identifying the petitioner, detailing the relevant property, and providing notice to interested parties about the petition and hearing date. Users are required to fill in specific details, such as names, addresses, parcel numbers, and sale amounts, ensuring that all information is accurate and complete. The form also requires a certificate of service to inform other parties of the petition, demonstrating compliance with procedural rules. This document is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who handle real estate matters and taxation issues. By utilizing this petition, legal professionals can facilitate the recovery of funds rightfully owed to property owners, helping their clients navigate the complexities of tax sales effectively.
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FAQ

Excess Proceeds is the amount of funds remaining after the Treasurer and Tax Collector sells a tax-defaulted property and recovers the taxes, penalties and costs.

In the state of Texas, the previous owner of the home is entitled to the extra money collected at the sale. However, this money has to be claimed within two years of the sale of the home. Otherwise, the county gets to keep the 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.

Section 34.04 - Claims for Excess Proceeds (a) A person, including a taxing unit and the Title IV-D agency, may file a petition in the court that ordered the seizure or sale setting forth a claim to the excess proceeds. The petition must be filed before the second anniversary of the date of the sale of the property.

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.

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Petition For Excess Proceeds For Withdraw