Keeping possession of real property without a right, such as after a lease has expired or after the real property has be sold by the possessor, may entitle the owner to file a lawsuit for "unlawful detainer," asking for possession by court order, unpaid rent and damages. This form is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a notice in a particular jurisdiction.
Bexar Texas Complaint or Petition by Purchaser Against Possessor of Real Property After Judicial Foreclosure Sale - Repossession
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State:
Multi-State
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Bexar
Control #:
US-01018BG
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Word;
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FAQ
Distribution of Excess Funds After the foreclosure sale, if the property sells for a higher price than what is owed, the excess funds would then be used to pay off any additional liens that may be on the property.
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.
After the sale, if the property sells for less than what is owed, the creditor may try to come after the borrower for the remainder of what is owed to them. This is referred to as a deficiency judgment. In nonjudicial foreclosures, a lawsuit must be filed in order to obtain a judgment to collect the deficiency.
If your property is sold at foreclosure, any funds remaining after the sale that have not been used to pay off the liens held by your mortgage company or other lienholders will be remitted to the court.
To recover surplus money from a foreclosure sale, claimants must act quickly. There will be a limited window for you to recover the funds. You'll also need to provide proof of prior ownership to the trustee or the court. You may also have to complete and submit a claim form and/or attend a court hearing.
In Texas, the right of redemption applies only to delinquent tax sales. There is no right of redemption for mortgage foreclosure sales. Anyone contemplating purchas- ing property at a tax sale should be aware of the provisions in the Texas Constitution and the Texas Property Code as amended.
If you have a claim for foreclosure surplus funds in California, call toll free today at 888.252. 8754.
Without an attorney to claim surplus funds you'll need to follow three steps. Step one is to provideMoreWithout an attorney to claim surplus funds you'll need to follow three steps. Step one is to provide proof of ownership. Which is done by giving title two is to provide verification of funds which is
