Tax overages, also known as tax sale surplus funds, occur when a property is sold at a tax lien or tax deed auction for more than the amount owed in taxes. The excess amount—after covering the tax debt and associated fees—is held by the county or state. This money is owed to the former property owner or other entitled parties, but the process for claiming it requires specialized knowledge and careful attention to detail.
Every year, millions of dollars in tax overages go unclaimed due to lack of awareness or difficulties navigating the recovery process. Failing to recover these funds not only forfeits your rightful assets but also allows them to become escheated to the state after a certain period.
Recovering tax overages can:
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Utilize other engagement channels
Strategy review, including litigation
Successful outcome achieved
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Tax overages can arise from a variety of situations, including:
Claiming tax overages can be difficult due to:
Complex Legal Procedures
Each state has its own rules and requirements for filing a claim, making it challenging for individuals to navigate alone.
Fraud Risks
Scammers often target individuals eligible for tax overages, creating confusion and distrust.
Strict Deadlines
Claims must be filed within a specific timeframe to avoid forfeiture of funds.
Lack of Awareness
Many property owners are unaware they are owed surplus funds after a tax sale.
At Franmop, we eliminate these obstacles, ensuring that you recover what’s rightfully yours without stress or uncertainty.
FranMop is proud to have collaborated with a diverse array of clients across multiple industries. Our commitment to excellence, paired with tailored strategies, has enabled us to build strong and enduring partnerships.
Tax sale surplus funds are the remaining proceeds from the sale of a property at a tax lien or tax deed auction after the taxes, penalties, and fees have been paid.
Typically, the former property owner is entitled to claim the surplus. In some cases, lienholders or other creditors may also have a right to the funds.
The timeframe to claim tax overages varies by state, ranging from a few months to several years. If the deadline is missed, the funds may be forfeited to the state.
Franmop operates on a contingency fee basis, meaning you only pay a percentage of the recovered funds once the claim is successful.
