Money Claims
How Millions are Lost

Money Claims
Every year millions of dollars are turned over to the state of Florida due to no party coming forward to claim them. Many times it is overage from tax deed sales or foreclosure auctions but there are also instances where bond was posted or property sold in connection with probate or civil actions. Other times it is mortgage holders with an interest in the property whom never comes forward to make their money claim. More times than you would think claims are suspended by the county attorney and there it sits looming closer to the cut off date. Unlike foreclosure or probate where the money is transferred to the state and is claimable from them, tax deed surplus claims are not claimable after the deadline.

There are varying reasons why some do not come forward to make their money claim in connection with these types of situations. In my opinion, it is typically beacuse of: in fighting among heirs, pending bankruptcy litigation, lack of a will or probate allowing a clear path for inheritors to show claim, incarceration or a mortgage holder/lien holder who is unaware.

The Order Of Priority Counts!

In tax deed and foreclosure money claims, I have looked at lately, there seems to be a growing number of lenders and lien holders who do not come forward. Here's how it typically works. Tax Deed property has 2 mortgages and a utility lien. 1st mortgage=$100 2nd mort=$10 utility lien=$3 opening bid=$20 property sold=$60.

Priority to claim: parties in connection with tax deed 1st priority, utility liens 2nd, 1st mort 3rd, 2nd mort 4th, owner 5th.

Without doubt the 1st and 2nd are paid off. If the third does not come forward, then it bumps up the others below it. So for our example lets say the 1st mort holder doesn't come forward. The owner would receive $27. If the first and second mortgage holder does not file then the owner receives=$47.

In order for the claims to change in priority there has to be a case compelled by the Clerk to insubordinate the higher priority holders, even though they didn't come forward within the statutory deadline.

I am attempting to contact some of these individuals and am currently acting as agent for service provider.

If any of the above scenarios apply to you please let me know.

If you are not an attorney, surplus trustee, encumbrance holder or owner you will not be able to claim the funds. The Clerk at their discretion has the right to refuse claims, suspend claims, or to make payment to whom they see fit in accordance with FL law.

If you are not associated but have a general question please address it to Investors Corner

If you have a private question and are not one of the people listed please forward to money claims private inquiry