Florida Tax Deed Surplus Funds: Who Gets Paid and When
By Israel Chen ·
Short answer: Surplus is what's left when a Florida tax deed sells above the opening bid. Government liens are paid first, then others with an interest in the property may claim. Claimants have 120 days from the clerk's notice, and late claims are barred.
The order of things under s. 197.582
- The certificate holder is repaid with interest at 1.5% a month if someone else bought the property.
- Governmental units with recorded liens are paid first from the surplus.
- The clerk mails notice, and people with an interest have 120 days to file a written claim.
- The clerk acts within 90 days after the claim period ends, and may ask the circuit court to decide conflicting claims.
- If nobody claims, the legal titleholder of record is presumed entitled, and the money is handled as unclaimed property under chapter 717.
Don't sign away your money without reading
Gulf County's clerk puts it in capitals: you are not required to obtain a third party to submit an application for surplus funds. Each clerk publishes a claim form.
Questions
How long do I have to claim Florida tax deed surplus funds?
120 days from the date of the clerk's notice. Claims not filed by close of business on the 120th day are barred.
Do I need a company to claim surplus funds?
No. Clerks publish claim forms, and Gulf County's clerk says no third party is required.
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.