Answer: We assist former homeowners and beneficiaries in Pinellas County, FL, with recovering foreclosure surplus funds held by the clerk of court after a judicial foreclosure. Our service guides you through the court process to claim surplus funds, whether they remain with the clerk or have been transferred to the Florida Department of Financial Services as unclaimed property.

If your home in Pinellas County has been sold at a judicial foreclosure, you may be entitled to surplus funds left over after the mortgage and other liens are paid. These funds are held by the Pinellas County Clerk of the Circuit Court, not the lender. Navigating the process to claim these funds can be confusing, especially during a difficult time. We help former owners and, when needed, beneficiaries of deceased owners, understand their rights and pursue claims for surplus funds through the proper legal channels.

Why choose us

  • Clear guidance through the judicial foreclosure surplus process in Pinellas County.
  • Representation for both former owners and beneficiaries of deceased owners.
  • Assistance with claims for surplus funds held by the clerk of court or, if more than one year has passed, with the Florida Department of Financial Services.
  • Convenient contact by phone at (561) 933-4747 or at our office: 160 W Camino Real, 589, Boca Raton, FL 33432.

Services offered

  • Reviewing court records to determine if a surplus exists after a judicial foreclosure sale.
  • Preparing and filing motions or claims with the Pinellas County Clerk of the Circuit Court.
  • Representing former owners and eligible beneficiaries in court proceedings related to surplus funds.
  • Handling claims for surplus funds that have been transferred to the Florida Department of Financial Services as unclaimed property.
  • Explaining the distribution order: first, the amounts directed by the final judgment; then, subordinate lienholders who filed timely claims; and finally, the owner of record as of the date the lis pendens was filed.

Steps

  1. Initial review: We review the foreclosure case to confirm whether a surplus exists and who may be entitled to claim it.
  2. Gather documentation: Collect necessary documents, such as proof of ownership and identification.
  3. Prepare claim: Draft and file the required motion or claim with the Pinellas County Clerk of the Circuit Court.
  4. Court process: Attend hearings if the court requires them, and respond to any objections or competing claims from subordinate lienholders.
  5. Distribution: If the court approves the claim, the clerk of court releases the surplus funds according to the court’s order.
  6. Unclaimed property: If more than one year has passed since the sale and the funds have been sent to the Florida Department of Financial Services, we help prepare and submit the claim to the Department.

Example

Example scenario:
A homeowner in Clearwater, Pinellas County, goes through a judicial foreclosure. The final judgment orders the sale of the property, and the sale brings in $250,000. The judgment amount, including the mortgage and court-approved costs, is $230,000. After paying any subordinate lienholders who filed timely claims, $15,000 remains as surplus. The Pinellas County Clerk of the Circuit Court holds this surplus in the court registry. The former owner, or if deceased, their beneficiary, may claim these funds through the court process. If no claim is made within one year, the surplus is sent to the Florida Department of Financial Services as unclaimed property, but it can still be claimed by the owner of record or their beneficiary.

Common pitfalls

  • Missing the one-year mark: After one year, unclaimed surplus funds are transferred from the clerk of court to the Florida Department of Financial Services. 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.
  • Not understanding the distribution order: Subordinate lienholders who file timely claims may be paid before the former owner receives any surplus.
  • Assigning rights without understanding limits: Assigning your right to surplus funds to a recovery company or other assignee is allowed, but under section 45.033, the total compensation to an assignee may not exceed 12 percent of the surplus.
  • Believing a lawyer is required: Florida law allows former owners to claim surplus funds directly from the clerk of court without a lawyer. However, some choose legal help for guidance through the process.

FAQ

What is foreclosure surplus in Pinellas County, FL? Foreclosure surplus is any money left over after a judicial foreclosure sale, once the amounts in the final judgment and any timely claims by subordinate lienholders are paid. The surplus is held by the Pinellas County Clerk of the Circuit Court. Who can claim the surplus funds? After subordinate lienholders who filed 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 be able to claim. How long do I have to claim surplus funds from the clerk of court? There is no set deadline for the owner to claim surplus from the clerk, but after one year, any unclaimed funds are sent to the Florida Department of Financial Services as unclaimed property. The funds can still be claimed, but only by the owner of record or a beneficiary. What happens if I do not claim the surplus within one year? After one year, the clerk of court sends the surplus to the Florida Department of Financial Services. The funds are not lost, but the claim must then be made to the Department, and only the owner of record or a beneficiary may claim. Do I need a lawyer to claim surplus funds? No. Florida law allows you to claim surplus funds directly from the clerk of court. Some former owners choose to seek legal help for assistance with the process. 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? You can call us at (561) 933-4747 or visit our office 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 Pinellas County, FL, and 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.