Detailed Answer
When a Florida foreclosure sale generates more money than the outstanding debt, state law requires the clerk to deposit surplus funds and make them available to claimants. Under Florida Statute 45.032, any interested party—including the former property owner, junior lienholder, or judgment creditor—can discover and claim these surplus funds by following these steps:
- Identify the sale details: Obtain the foreclosure sale date and the circuit court case number from the county clerk’s office where the sale occurred.
- Search the clerk’s records: Visit the local County Clerk of Court website (accessible through the Florida Clerks portal at www.flclerks.com) or the public records terminal in the clerk’s office. Look for entries titled “Surplus Funds” or “Overbid Funds” under the foreclosure case docket.
- Verify the surplus deposit: Confirm that the clerk has deposited surplus proceeds as required by Fla. Stat. § 45.032 (2023). You can review the official statute at www.flsenate.gov/Laws/Statutes/2023/45.032.
- File a motion for disbursement: If surplus funds exist, file a motion with the clerk within one year after the sale date. The motion should state your legal interest (e.g., former homeowner, lienholder) and attach supporting documentation.
- Attend the surplus hearing: The court schedules a hearing to resolve competing claims. Present documents such as the foreclosure judgment, deed, mortgage, or lien certificate to establish your priority.
- Receive your funds: If the court awards you the surplus, the clerk disburses payment by check or electronic transfer to the successful claimant.
Helpful Hints
- Mind the deadline: You have one year from the sale date to file your motion under Fla. Stat. § 45.032. Missing the deadline typically forfeits your claim.
- Gather complete records: Certified copies of the foreclosure judgment, sale certificate, and any junior liens will strengthen your claim.
- Review fee schedules: County clerks charge nominal fees for filing motions and issuing certified copies—check the local fee schedule in advance.
- Watch public notices: Surplus fund availability is often advertised in local newspapers. Monitor these notices for updates on filing periods and hearing dates.
- Consider professional assistance: Title companies and foreclosure attorneys frequently handle surplus claims and can help navigate procedural requirements.
Disclaimer: This article provides general information under Florida law. It does not constitute legal advice. Consult a licensed attorney for advice tailored to your situation.