How to claim foreclosure surplus funds in Florida

How to claim surplus funds in Florida

1. The clerk holds the surplus

   After the certificate of title and the certificate of disbursements

   After the sale, the clerk pays what the final judgment orders and files a certificate of disbursements showing any surplus kept by the clerk. If the home had a homestead exemption, the judgment tells you to check with the clerk within 10 days after the sale to see if there is extra money.

   Fla. Stat. § 45.031

2. File the owner's claim form

   Before the clerk reports the money as unclaimed

   Florida law includes an Owner's Claim for Mortgage Foreclosure Surplus form you sign under oath before a notary. It says you do not need a lawyer and do not have to assign your rights to anyone. If no subordinate lienholder claims, the court orders the clerk to pay you, minus service charges, after proving your identity.

   Fla. Stat. § 45.032(3)(a)

3. Who is paid first

   Subordinate lienholders on the pleadings, such as a second mortgage, HOA or condo lien, judgment or tax warrant, are paid first if they file timely claims. The rest is presumed to belong to the owner of record on the date of the lis pendens.

   Fla. Stat. § 45.032(1), (2)

4. If others claim the money

   If anyone besides the owner of record claims the surplus, or your claim says others may be entitled, the court holds an evidentiary hearing. Someone claiming through an assignment from you must prove it meets the statute's rules.

   Fla. Stat. § 45.032(3)(b)

5. Unclaimed after 1 year

   1 year after the sale, unless a court case on the money is pending

   Surplus not paid out within a year is presumed unclaimed and sent to the Florida Department of Financial Services. After that, only the owner of record reported by the clerk, or a beneficiary of a deceased owner, can claim it. A surplus under $10 goes to the clerk.

   Fla. Stat. § 45.032(3)(c)

6. Fee limits on surplus deals

   Assignment must be filed within 60 days after the certificate of disbursements

   A company that buys or takes an assignment of your surplus must use a written agreement with financial disclosures, file it with the court within 60 days after the certificate of disbursements, and take no more than 12% of the surplus. Once money reaches the state's unclaimed property program, a claimant representative's fees are capped at 30%. Be careful: you can claim for free.

   Fla. Stat. §§ 45.033, 717.135

7. Surplus after a tax deed sale

   120-day notice period

   Money left after a property tax deed sale follows a separate process with its own notice and claim form. See our Florida property tax foreclosure page.

   Fla. Stat. § 197.582

What Florida law says about leftover sale money

Common questions in Florida