Answer: If you lost your home to foreclosure in Brevard County, FL, you may be entitled to surplus funds left over after the sale. We assist former owners and beneficiaries in recovering these funds from the Brevard County Clerk of the Circuit Court or, if more than one year has passed, from the Florida Department of Financial Services.

When a home is sold at a judicial foreclosure in Florida, the sale may bring in more than what was owed on the mortgage and other liens. The extra money—called the surplus—is held by the clerk of court, not the lender. Recovering these funds involves a legal process, and the right to claim them depends on the court’s final judgment and the order of priority set by Florida law.

Why choose us

  • We guide former homeowners and beneficiaries through each step of the surplus recovery process.
  • Our office is conveniently located at 160 W Camino Real, 589, Boca Raton, FL 33432.
  • You can reach us at (561) 933-4747 during our regular business hours.
  • We handle both claims with the Brevard County Clerk of the Circuit Court and, if the surplus has been transferred, with the Florida Department of Financial Services.

Services offered

  • Reviewing your foreclosure case to determine eligibility for surplus funds.
  • Preparing and filing the necessary paperwork with the Brevard County Clerk of the Circuit Court.
  • Representing former owners and beneficiaries in court if a hearing is required.
  • Assisting with claims to the Florida Department of Financial Services for surplus funds that have become unclaimed property after one year.
  • Advising on the order of distribution, including subordinate lienholder claims.
  • Explaining your options if you are considering handling the claim yourself.

Steps

  1. Case Review: We review the foreclosure court file to confirm whether a surplus exists and who may be entitled to it.
  2. Document Preparation: We prepare the required documents to claim surplus funds from the Brevard County Clerk of the Circuit Court.
  3. Filing the Claim: The claim is filed in the same judicial foreclosure case where the final judgment was entered.
  4. Court Review: The circuit court reviews all claims, including those from subordinate lienholders, and issues an order directing the clerk how to distribute the surplus.
  5. Distribution: The clerk of court releases funds according to the court’s order.
  6. Unclaimed Property: If more than one year has passed since the sale and the surplus remains unclaimed, we assist with filing a claim with the Florida Department of Financial Services.

Example

Example only:
A Brevard County homeowner’s property is sold at a judicial foreclosure sale for $250,000. The final judgment orders the clerk of court to pay $200,000 to the lender and $10,000 to a subordinate lienholder who filed a timely claim. This leaves a $40,000 surplus. If the former owner files a claim with the Brevard County Clerk of the Circuit Court within one year, the court may order the surplus paid to them. If no claim is made within one year, the clerk sends the surplus to the Florida Department of Financial Services as unclaimed property. The former owner, or the beneficiary if the owner has died, may then claim it from the Department.

Common pitfalls

  • Missing the one-year mark: After one year, surplus funds are no longer held by the clerk of court but are sent to the Florida Department of Financial Services as unclaimed property. The funds are not lost, but the process for claiming them changes.
  • Confusing foreclosure surplus with tax-deed surplus: Tax-deed sales are a separate process with different rules and are not covered here.
  • Assuming the lender holds the surplus: In Florida, the clerk of the circuit court holds the funds, not the lender or their attorney.
  • Overlooking subordinate lienholders: Subordinate lienholders who file timely claims may be paid before the owner of record.
  • Assigning rights to a recovery company: If you assign your rights to a surplus recovery company, Florida law caps their total compensation at 12 percent of the surplus under section 45.033.
  • Not seeking help when needed: While you are not required to have a lawyer to claim surplus funds, the process can involve legal filings and court hearings. We can help you understand your options.

FAQ

What is foreclosure surplus? Foreclosure surplus is the extra money left after a judicial foreclosure sale in Florida, once the amounts ordered by the final judgment are paid by the clerk of court. Who holds the surplus funds after a foreclosure sale in Brevard County? The Brevard County Clerk of the Circuit Court holds the surplus in the court registry until it is claimed or sent to the Florida Department of Financial Services after one year. Who can claim the surplus? After subordinate lienholders with timely claims are paid, the owner of record as of the date the lis pendens was filed may claim the surplus. If the owner has died, a beneficiary may claim it. What happens if I do not claim the surplus within one year? After one year, the clerk sends the surplus to the Florida Department of Financial Services as unclaimed property. The owner of record or their beneficiary may still claim it from the Department. Do I need a lawyer to claim surplus funds? You are not required to have a lawyer to claim surplus funds from the clerk of court. However, legal assistance can help you navigate the process, especially if there are competing claims or court hearings. Is this the same as tax-deed surplus? No. Tax-deed surplus is a separate process with different rules and is not covered on this page. How do I get started? Contact our office at (561) 933-4747 or visit us at 160 W Camino Real, 589, Boca Raton, FL 33432 to discuss your situation.

This page provides general information about foreclosure surplus funds recovery in Brevard County, FL. It does not create an attorney-client relationship.

Important information

Attorney advertising. Responsible attorney: Christian Cruz, Esq. Office: CRUZ LAW FIRM, 160 W Camino Real, 589, Boca Raton, FL, 33432.

Florida law does not require you to hire a lawyer or anyone else to claim foreclosure surplus funds. A former owner may file a claim with the clerk of court directly, and does not have to assign their rights to anyone to do so.

This page is general information about Florida law, not legal advice. Reading it does not create an attorney-client relationship, and no such relationship is formed until we have a signed written agreement.

Fee arrangements depend on the posture of the matter and are set out in a written agreement before any work begins. We are glad to explain how fees would work in your situation when we speak.