Find Surplus Funds on Foreclosures
There are many ways to find surplus funds on Foreclosure. This article will help you to decide where to look first.
A list of surplus funds or excess revenues can be found online. The majority of states have searchable digital databases where you may see if the state has any unclaimed property or money in your name. You can generate a list from court cases if the county or state does not have it.
Read on to learn more about where to check for your surplus funds.
How To Check For Surplus Funds
You can go online to check for any unclaimed money or property. However, there is no unified website for finding unclaimed funds run by the federal government. You do not need to pay a corporation to locate unclaimed funds on your behalf. You can find them for free by searching official databases.
If you are residing in the state of California or want to find out if you have unclaimed funds in that state, you can search for them on the State Controller’s Office website.
The owners or heirs of unclaimed properties can directly search for their property for free on California State Controller’s Office website. If the information provided matches the results, there may be possible ownership. However, it is important to note that a lot of people have the same name so the listed property may not be yours. Ownership will be only determined when you provide documentation when sending in a claim.
How To Get A Surplus Fund List
The majority of surplus fund lists are based on the county recording system. Some counties make a list available online through their treasury or county clerk websites. For lists of a specific county in a state make sure to include the county and state name along with keywords.
You can try to get a list by searching on search engines like Google or Bing. Type in commonly searched keywords like:
- county excess funds list
- county tax sale overage list
- excess funds list
- excess proceeds list
- foreclosure overages list
Do not forget to add the state or county name with the keywords written on the list to check the list of a specific county in the state.
You can also search in the National Association of Unclaimed Property Administrators (NAUPA) website to check unclaimed properties held by the other states.
To check if you have unclaimed property in another state agency aside from the State Controller’s Office of California, simply go to their website. For example, there are unclaimed properties that are held by the California State Teachers’ Retirement System (CalSTRS). It includes uncashed and returned checks, unclaimed survivor benefits, or accounts that are dormant.
How Do I Find Lost Money In My Name?
Checking the address connected with the funds is the best method to see if the person mentioned is you. Examine the address to determine whether you ever lived or did business there.
The state is unable to provide the Social Security Number since it is deemed private by law, and in many cases, they are unaware of it. To verify ownership, you must provide your Social Security Number on the claim form.
Can You Claim Property That Isn’t Yours?
If you are an heir, trustee, or personal representative/executor/administrator, you may submit a claim for the property of a dead owner. The documents you’ll need to show ownership may be found in the filing procedures for dead owner claims if your property is in California.
Since there are a lot of people who have the same name, the heir or representative filing the claim must provide all of the necessary documents to verify that they are the rightful heirs. The claimant also needs to provide certified copies of the official documents, like a will or trust, as proof that they are entitled to claim the property on the behalf of the owner. However, if there is no will or trust provided, additional paperwork must be filled out.
What Is Considered Unclaimed Property?
Unclaimed money in financial and bank accounts that have been idle for longer than a year is considered unclaimed property.
Payroll checks that have not been cashed, dormant stocks, court money, dividends, checking and savings accounts, and estate profits are examples of unclaimed property. Unclaimed property accounts are turned over to the state for a variety of reasons, including the account holder’s death, failing to establish a forwarding address after moving or just forgetting about an account.
How Do I Claim Unclaimed Property?
If you discover missing money in your name on one of these websites, you must file a legal claim. Some jurisdictions allow you to do this online, but the majority still need you to send a completed claim form along with the necessary paperwork to their unclaimed money department.
The paperwork you’ll need depends on the type of property you’re recovering. A copy of picture identification, such as a driver’s license, and a copy of your Social Security number are usually required. It’s possible that you’ll be asked to produce proof of address or ownership.
When it comes to tracing down and retrieving missing cash, it’s critical to follow the appropriate procedures. Scammers have pretended to be government authorities in order to steal personal information or demand fees for locating an unclaimed property.
Is A Legal Representation Needed?
Though it is not really required, hiring an attorney that is knowledgeable in the process of foreclosure surplus funds has huge advantages such as:
- Helps its clients with all the paperwork needed from filling out to filing
- Helps the clients to make sure action is taken before the expiry date of the claim
- Helps its clients to monitor the auction of their properties
What Should I Expect From The Foreclosure Surplus Funds Attorney?
An attorney will be handy when there is a failure of notification. They can research what happened and help you to determine if a foreclosure surplus fund exists and how to reclaim it.
Your attorney will consult you first and discuss possible circumstances and expectations.
After your property is foreclosed, it will be auctioned. Auctions are usually done online and transactions are fast. You will be notified if there is any excess in the proceeds but the mail will be addressed to your old address.
For this not to happen, the owner must leave a forwarding address so they will be notified on how to access the excess funds.
Then the owner must file a petition for the excess proceeds. Owners must be aware that there is a limited time frame to file a claim or the funds will be lost by default.
Conclusion
Owners have a right to claim the excess funds from their foreclosed properties. Though the process will not be easy, it will all be worth it.
Foreclosure is a tough process. It is essential to follow the process thoroughly. If you do not know how the process works, you could miss how to claim your foreclosure surplus fund.
With the help of a specialist, which in this case is an attorney that is knowledgeable in foreclosure surplus funds, you can find out and claim what is owed to you after your property gets sold.
If you are still wondering how to get those claims and are in need of legal representation, reach out to us and we will be glad to assist you.
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