Surplus Funds Recovery in Florida: Before You Sign
By Israel Chen ·
Short answer: Surplus funds recovery means claiming money left over after a tax deed or foreclosure sale. Companies offer to do it for a share, but you can file yourself: clerks publish claim forms, and Gulf County's clerk says no third party is required.
Two kinds of surplus
- Tax deed surplus: claims must be filed within 120 days of the clerk's notice under s. 197.582. Details.
- Foreclosure surplus: the owner of record is presumed entitled under s. 45.032. Details.
Before you sign an assignment
Courts look hard at surplus assignments. Under s. 45.032 someone claiming as the owner's assignee has to prove they're entitled. Read what you're giving up, what share you'd pay, and whether you could file the same form yourself.
Questions
Do I need a surplus funds recovery company in Florida?
No. You can file the clerk's claim form yourself, though a lawyer can help if claims conflict.
Sources
Israel Chen buys Florida tax deeds, mostly in Volusia County. MBA, second-year law student (not a lawyer) and computer scientist. About me.
Next: the Florida guide, the Volusia guide, the glossary, or work with me. Not legal, tax or investment advice.