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Arizona Order for Release of Excess Proceeds of Sale

Maricopa County Excess Proceeds List

Name: Arizona Order for Release of Excess Proceeds of Sale
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.85 (492 reviews)

Category:

Arizona Local County - Mohave - Superior Court - Civil

State:

Arizona

Control #:

AZ-MH-CV-17

Format:

Instant download

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Description

Order for Release of Excess Proceeds of Sale An Arizona Order for Release of Excess Proceeds of Sale is a court order issued by the Arizona court system that allows a claimant to receive payment from the excess proceeds of a sale. This order is typically issued in cases where a sale of property has occurred but the proceeds from the sale exceed the amount owed to the lien holder or creditor. The excess funds generated by the sale are then held in a trust until the court orders their release to the claimant. There are two types of Arizona Order for Release of Excess Proceeds of Sale: * Partition Actions: This type of order is issued when the proceeds from the sale of a property are held in a trust pending the resolution of a partition action. * Foreclosure Actions: This type of order is issued when the proceeds from the sale of a property exceed the amount owed to the lien holder or creditor, and are held in a trust pending the resolution of a foreclosure action.

An Arizona Order for Release of Excess Proceeds of Sale is a court order issued by the Arizona court system that allows a claimant to receive payment from the excess proceeds of a sale. This order is typically issued in cases where a sale of property has occurred but the proceeds from the sale exceed the amount owed to the lien holder or creditor. The excess funds generated by the sale are then held in a trust until the court orders their release to the claimant. There are two types of Arizona Order for Release of Excess Proceeds of Sale: * Partition Actions: This type of order is issued when the proceeds from the sale of a property are held in a trust pending the resolution of a partition action. * Foreclosure Actions: This type of order is issued when the proceeds from the sale of a property exceed the amount owed to the lien holder or creditor, and are held in a trust pending the resolution of a foreclosure action.

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Excess sales proceeds are monies left over after a trustee's sale. Once the trustee's sale has been completed there may be monies left over because the lender who foreclosed has been paid in full.

Excess proceeds from the sale of tax-defaulted property is defined as any amount that is more than $150 after tax and assessment liens, fees and costs of the sale have been satisfied.

Surplus funds, also referred to as overage or excess funds, are the funds remaining after a mortgage is paid through the final judgment of a foreclosure auction. The trustee appointed in the foreclosure auction is responsible for disbursing the funds without charging additional fees.

In Arizona a trustee's sale or judicial foreclosure are two of the processes a lender can use when there is a default of the original loan agreement (e.g. not paying the mortgage).

Excess proceeds from the sale of tax-defaulted property is defined as any amount that is over the minimum bid price. Parties having an ownership or lien holder interest in the property at the time the property is sold at tax sale have a right to file a claim for any excess proceeds that remain.

If you believe there is a defense to the trustee sale or if you have an objection to the trustee sale, you must file an action and obtain a court order pursuant to rule 65, Arizona rules of civil procedure, stopping the sale no later than p.m. mountain standard time of the last business day before the scheduled

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.

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.

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Complete and submit the "Order to Release Excess Proceeds of Sale" to the assigned Judge for the. 197.291(2), F. S., authorizes the satisfaction of a county welfare lien from the excess proceeds of a tax sale. 4) A claim to the excess proceeds of a tax deed sale pursuant to s. 197. Upon the completion of the foreclosure, the clerk of the court sells the property to satisfy the mortgagee's judgment. If the purchase price at the foreclosure sale exceeds the borrower's loan balance, this extra amount is called "excess proceeds" or "surplus funds.". In order to make a claim for the excess proceeds, please complete the Excess Proceeds Claim Form along with documentation to support your claim as follows:. Following a tax sale, any overage of funds, known as 'excess funds,' is placed in a separate account. (B). A claim may be filed at any time after the sale until the funds are awarded.

Maricopa County Excess Proceeds List

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