Tax sale overages, excess proceeds and surplus funds are the result of real property that sold at public auction to the highest bidder. There is a high misconception that once the property is sold at auction, the previous owner to that specific property no longer has rights or interest, this information is false. There are laws in place that protect the rights of previous owners EVEN AFTER SEIZURE OR FORECLOSURE! These laws protect the interests of the previous owners connected to the sale of property.
SURPLUS FUNDS RECOVERY
As previously explained in minor detail, surplus funds are generated from, and by, the sale of real property at public auction held by county governments throughout the United States. Auctions always begin with an opening bid to start the bidding process. In tax seizure and mortgage foreclosure public auctions, these sales often begin with the amount that was owed toward the property prior to seizure or foreclosure. In most cases, the auction usually ends with a much higher winning bid than what was owed. The difference between the opening bid and the winning bid results in what is referred to as "surplus funds". Once the sale of real property is finalized, and all debt is satisfied to the county, lienholders and other interested parties, the remaining amount legally belongs to the previous owner of record that was listed as the owner at the time of seizure or foreclosure. In summary, the only amount the county can legally retain resulting from the sale of the seized property is the opening bid amount. The remaining funds can be claimed by the previous owner by filing a claim in the court against the funds. Lastly, many individuals, heirs and business owners are unaware of these funds and the legal right to claim them. Recover All Asset Recovery, LLC commits to assisting those who are entitled those funds. For more information, please use the contact form to place and inquiry.
STANDARD OPERATING PROCEDURE
Recover All Asset Recovery, LLC operates on the highest level of confidence working along side professionals and experts with extensive experience and background in the asset recovery industry. Doing so allows the team to uphold integrity and remain dignified throughout the process of assisting and managing cases to successful completion according to the laws that govern the process in each individual situation understanding that every circumstance is unique. This is necessary to remain the industry leader in asset recovery trusted by thousands of satisfied clients.
SECURE PROCESS
Recover All Asset Recovery, LLC goes to work immediately to ensure timely results. Communication is the key element to success in all areas of the proven methodical approach working on behalf of clients and pursuing acquisition. Each step is intentional to bring about an ambitious resolve. The solution is developmentally strategic in order to assure smooth transition from start to finish. Personnel are responsible for keeping up-to-date information on hand to ask and answer any questions that may arise at any given time. The primary responsibility of Recover All Asset Recovery, LLC is to protect the information and rights of our clients.
FUNDAMENTAL ASPECTS
County governments operate based on State Legislative practices, leaving very little room for error or possibility of random individuals having the ability to manipulate the system. State law governs the allocation of surplus funds, tax sale overages and excess proceeds. This means the entire process, from start to finish, is a legal process overseen by a court of law. It takes time to research the property and collect the proper information necessary to file a successful case. Each case is unique and has specific requirements. After clearing record searches and doing detailed due diligence, it is advisable to have a team that is knowledgeable and experienced in your corner that can circumnavigate these elements. Documentation has very little room for error, and the court will always be prepared to find a reason why the case should not be approved. Recover All Asset Recovery, LLC understands this legal strategy and is ready to work on your behalf.