Foreclosure Surplus Funds
When a foreclosure sale brings in more than what was owed on the mortgage, Florida law says that extra money belongs to the former owner — not the lender, and not the highest bidder.
The "owner of record" is presumed entitled
Florida law presumes the surplus belongs to whoever appeared to own the property on the date the foreclosure case began (the date the lis pendens was filed) — after any subordinate lienholders who filed timely claims are paid. This overturned the old rule that surplus went to whoever owned the property at the time of the sale.
If you owned a property that was later foreclosed on, and the sale price was higher than the balance owed, you may be the person the law says this money belongs to.
Why the difference matters to your bottom line
Many "surplus recovery" companies ask homeowners to sign an assignment — legally transferring the claim itself to the company, which then collects the money in its own name. Florida law caps what an assignee can charge at 12% of the surplus, but it also requires the owner to give up direct control of the claim.
We represent you as your attorney instead. You remain the claimant. The funds are recovered in your name, under a normal attorney fee agreement — not an assignment of your rights. Because there is no assignment, the 12% assignee cap does not apply to our representation; our fee is instead set out plainly in a written agreement before you sign anything, as explained on our How It Works page.
How surplus funds move through the system
The property is sold at auction for more than the balance owed on the judgment.
This certificate shows whether a surplus exists after the judgment and costs are paid.
The former owner (or a subordinate lienholder) can file a claim directly with the clerk at any point before the funds are reported unclaimed.
If no one has claimed the surplus within one year, it is presumed unclaimed property and reported to the Florida Department of Financial Services — at which point it becomes a Track C claim.
Think you may be owed foreclosure surplus?
We'll review your situation and tell you honestly whether it looks like a claim — free of charge.