Sec. 34.04 of the Texas Tax Code provides in part as follows:
(a) A person, including a taxing unit, 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. The petition is not required to be filed as an original suit separate from the underlying suit for seizure of the property or foreclosure of a tax lien on the property but may be filed under the cause number of the underlying suit.
(b) A copy of the petition shall be served, in the manner prescribed by Rule 21a, Texas Rules of Civil Procedure, as amended, or that rule's successor, on all parties to the underlying action not later than the 20th day before the date set for a hearing on the petition.
(c) At the hearing the court shall order that the proceeds be paid according to the following priorities to each party that establishes its claim to the proceeds:
(1) to the tax sale purchaser if the tax sale has been adjudged to be void and the purchaser has prevailed in an action against the taxing units under Section 34.07(d) by final judgment;
(2) to a taxing unit for any taxes, penalties, or interest that have become due or delinquent on the subject property subsequent to the date of the judgment or that were omitted from the judgment by accident or mistake;
(3) to any other lienholder, consensual or otherwise, for the amount due under a lien, in accordance with the priorities established by applicable law;
(4) to a taxing unit for any unpaid taxes, penalties, interest, or other amounts adjudged due under the judgment that were not satisfied from the proceeds from the tax sale; and
(5) to each former owner of the property, as the interest of each may appear.
(d) Interest or costs may not be allowed under this section.
(e) An order under this section is appealable.
Bexar Texas Petition for Release of Excess Proceeds and Notice of Hearing
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How to fill out Texas Petition For Release Of Excess Proceeds And Notice Of Hearing?
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FAQ
Claiming surplus funds in Texas starts with understanding the necessary steps involved in the process. You must file the Bexar Texas Petition for Release of Excess Proceeds and Notice of Hearing, which formally requests the court to grant you access to the funds. Using platforms like uslegalforms simplifies this process, providing templates and guidance to ensure you meet all legal requirements. With the right tools, claiming your surplus funds can be straightforward.
The law regarding excess proceeds in Texas allows individuals to claim surplus funds resulting from property sales that exceed the amount owed on liens. This often occurs during tax foreclosure sales or other property auctions. The Bexar Texas Petition for Release of Excess Proceeds and Notice of Hearing is essential for initiating this process. Understanding the law helps ensure you can successfully access these funds.
The time it takes to recover surplus funds in Texas can vary based on several factors, including court schedules and the specifics of your Bexar Texas Petition for Release of Excess Proceeds and Notice of Hearing. Generally, once you file your petition, the court will schedule a hearing, which can take several weeks. After the hearing, you will receive a decision that may also affect how quickly you receive your funds. For a more efficient recovery process, consider leveraging the resources available on the uslegalforms platform.
To claim excess proceeds in Texas, you need to file a Bexar Texas Petition for Release of Excess Proceeds and Notice of Hearing with the appropriate court. Your petition should detail your claim and include any necessary supporting documents. After filing, the court will schedule a hearing to review your claim and determine eligibility. Utilizing the uslegalforms platform can streamline this process and ensure you complete the necessary steps accurately.
Filing a claim for surplus in Texas involves preparing a Bexar Texas Petition for Release of Excess Proceeds and Notice of Hearing. This petition informs the court of your intention to claim surplus funds resulting from a property sale. Make sure to include all required information, including your identification and proof of your claim. You may find it helpful to access resources on the uslegalforms platform to guide you through this process.
To file for excess proceeds in Texas, you must complete a Bexar Texas Petition for Release of Excess Proceeds and Notice of Hearing. Begin by gathering the necessary documentation, such as the property information and any relevant court documents. Next, submit your petition to the appropriate court, ensuring you meet all filing requirements. If you need assistance, consider using the uslegalforms platform to simplify the filing process.
A petition for release of excess proceeds in Texas is a legal document that allows individuals to request the distribution of surplus funds following the sale of their property at foreclosure. By submitting a Bexar Texas Petition for Release of Excess Proceeds and Notice of Hearing, you assert your entitlement to these excess funds. This petition includes relevant details about the property and explains why you deserve the surplus. Utilizing services like US Legal Forms can simplify this process, ensuring you complete all necessary steps correctly.
In Texas, excess proceeds from a foreclosure sale are the funds remaining after the property has sold for more than is owed on the mortgage. These funds belong to the former property owner and can be claimed through a Bexar Texas Petition for Release of Excess Proceeds and Notice of Hearing. If no claim is made within a certain time frame, the excess proceeds may eventually go to the state. Therefore, timely action is essential to secure your rights to these funds.
To recover your surplus funds in Texas, you need to file a Bexar Texas Petition for Release of Excess Proceeds and Notice of Hearing. This legal process allows you to claim any funds left over after your property has been sold at a foreclosure auction. By submitting the petition, you will indicate your rightful claim to these funds. Additionally, using a reliable platform like US Legal Forms can help you navigate the necessary paperwork efficiently.