Surplus funds, also known as excess proceeds, are the remaining money left after a property is sold at a foreclosure or tax deed sale.

Here’s how it works:

• When a property is sold at auction, it is often sold for more than the amount owed to the lender or the government (e.g., mortgage, taxes, or liens).

• The extra money, or surplus funds, belongs to the former property owner or other parties with a legal claim, such as second mortgage holders or judgment creditors.

For example:
If a property is auctioned for $200,000 and the outstanding debt is $150,000, the $50,000 difference is surplus funds.

Our Role: At Visionary Surplus Recovery, we help rightful claimants recover these funds by navigating the legal and administrative processes involved.

Why would there be funds owed to me?

If your property was sold in a foreclosure or tax deed sale, there could be funds owed to you because the sale price exceeded the amount needed to cover debts tied to the property.

Here’s how it works:

1. Foreclosure Sales:

   • Your property is auctioned to pay off your mortgage or other liens.

   • If the winning bid is higher than the total amount owed (e.g., mortgage balance, interest, fees), the remaining money is considered surplus funds and legally belongs to you.

2. Tax Deed Sales:

   • If your property was sold to settle unpaid property taxes, the sale often generates more money than the tax debt.

   • The extra money is surplus funds that should be returned to you as the former property owner.

Example:

• Total debt owed: $100,000

• Auction sale price: $150,000

• Surplus funds owed to you: $50,000

These surplus funds are your legal right, but they often require a formal claim process to recover. At Visionary Surplus Recovery, we specialize in helping individuals claim these funds quickly and efficiently.

At VSR, we make reclaiming your lost funds risk-free by working on a contingency fee basis—meaning if we don’t recover any money, you owe us nothing!

Why Our Contingency Model Benefits You:

✅ No hidden fees or upfront costs
✅ No risk of going into debt during the claims process
✅ Faster, more efficient research—we’re motivated to get results
✅ No conflicts of interest—our success is tied to yours
✅ Access to justice for everyone, regardless of financial situation
✅ The estate pays nothing if we don’t succeed

Even if a claim is unsuccessful, VSR will still handle all necessary work, including providing Affidavits of Diligent Search and expert testimony to satisfy court requirements. We’re committed to going the extra mile for our clients—even if it means we don’t always get paid.

We determine your share of unclaimed funds based on several key factors:

• The total number of verified claimants

• Descent and Distribution laws of the relevant state or country

• Final estate value after administrative costs

Your exact entitlement is calculated just before the final asset distribution, ensuring you receive the maximum share that’s rightfully yours.

While we can’t guarantee exact timelines, our experience shows that estate settlement and distribution typically takes around 8 weeks.

This may seem like a long wait, but since we only collect fees when you receive your payout, we are highly motivated to expedite the process as much as possible.

Factors That Affect Probate Timelines:

• Liquidating and distributing estate assets

• Court scheduling for estate hearings

• Complexities such as estate taxes or will disputes

• Claims from creditors or other heirs

• Assets requiring appraisals

• Mandatory creditor waiting periods

• Efficiency of estate administrators

At Visionary Surplus Recovery, we use our insider knowledge to streamline the process, ensuring you get your funds as quickly as possible.

Does this all sound too good to be true? You might be wondering why the estate or public administrator hasn’t contacted you directly. The truth is, the legal process is complex, and many attorneys and administrators lack the time, resources, or expertise to handle this intricate work.

Why Haven’t You Been Contacted?

✔ Finding missing heirs and proving heirship is time-consuming
✔ Courts and administrators often don’t have the capacity to track down every rightful heir
✔ Many heirs remain unknown to the court until proper research is conducted

That’s where Visionary Surplus Recovery comes in. Our thorough research allows us to identify rightful heirs and navigate the legal process efficiently.

Why Trust Us?

🔹 Ethics & transparency are at the core of our work
🔹 We compile vital documentation to strengthen your case
🔹 Our expertise increases your chances of success in court

We’re here to simplify the process and make sure you get what’s rightfully yours—without the hassle.

When it comes to foreclosure surplus funds, eligibility is determined on a case-by-case basis. Every situation is unique, and there’s no universal answer.

That’s why we encourage you to contact us at (813) 335-8085. When you call, we’ll take the time to understand your specific circumstances and assess whether you qualify for surplus funds. Let’s find out what’s rightfully yours!

Surplus funds come from the proceeds of a foreclosure or tax deed sale when the property is sold for more than the total amount owed.

Common Sources of Surplus Funds:

1. Foreclosure Sales:

   • If a homeowner defaults on their mortgage, the property is sold at auction.

   • Any amount collected above what is owed to the lender (mortgage balance, fees, and interest) becomes surplus funds.

2. Tax Deed Sales:

   • When a property owner doesn’t pay their property taxes, the government may sell the property to recover the unpaid taxes.

   • If the sale generates more money than the tax debt, the remaining amount is surplus funds.

These funds are typically held by the court, county, or another governing body until they are claimed by the rightful owner or an authorized representative.

At Visionary Surplus Recovery, we specialize in identifying and claiming these funds on behalf of homeowners, ensuring they receive what’s legally theirs.

The State of Florida has detailed laws outlining who is entitled to surplus funds after a foreclosure or tax deed sale. Here’s the breakdown:

Legal Explanation:

According to 2021 Florida Statutes, Title VI, Chapter 45.032, there is a rebuttable legal presumption that:

• The owner of record on the date the lis pendens (notice of foreclosure lawsuit) was filed is the person entitled to the surplus funds.

• Before the owner can claim surplus funds, subordinate lienholders (e.g., second mortgages, city liens, or construction liens) who timely file a claim must be paid.

Definitions:

1. Owner of Record:
   The person(s) listed as the owner of the property on the date the foreclosure lawsuit (lis pendens) was filed. This is determined by the foreclosure filing, not necessarily a title search.

2. Subordinate Lienholders:
   These include:

   • Second or third mortgages

   • City liens (e.g., unpaid utilities, code violations)

   • Secured loans (e.g., UCC filings for financed assets like solar panels or appliances)

Simplified Explanation:

• If you owned the property on the date the foreclosure lawsuit was filed, you’re entitled to claim any surplus funds left after all eligible lienholders are paid.

• Subordinate lienholders, like unpaid city utilities or second mortgages, may have a right to some of the surplus funds if they file a valid claim.

Common Pitfalls:

• Sometimes, the auction buyer (the new owner) tries to claim surplus funds, especially if the original homeowner isn’t represented. If no one objects, a judge might grant this claim, which could result in you losing funds that are rightfully yours.

How Visionary Surplus Recovery Helps:

We specialize in:
✅ Ensuring rightful claimants (like you) get the funds you’re entitled to.
✅ Reviewing all liens and claims to maximize your recovery.
✅ Fighting improper claims, such as those made by auction buyers.

Our team of experts is here to guide you through every step and protect your rights. Let us help you reclaim what’s yours!

If you’re not the owner of record, you’ve likely been identified as an heir to that person. When someone who owns property passes away and their property goes through foreclosure, the heirs of that person become the rightful parties to claim surplus funds.

How Heirs Are Determined

• Sometimes, it’s straightforward—like a spouse or child being the next in line.

• In cases where someone passes away without a will (referred to as "intestate" in Florida), the state follows predefined rules to determine the rightful heirs.

What This Means for You

Your entitlement to the surplus funds depends on these inheritance rules. Our expert specialists are here to guide you through the process and confirm your eligibility. Rest assured, we’ve already identified you as the rightful party to claim these funds!

No, your mortgage lender cannot claim surplus funds or come after you if the following applies:

1. If the Mortgage Was Named in the Foreclosure Case

• If your mortgage lender was the plaintiff in the foreclosure case, they’ve already been fully paid from the proceeds of the sale.

• Because they’ve been satisfied, they cannot claim surplus funds.

2. If the Mortgage Was NOT Named in the Foreclosure Case

• If your mortgage lender was not included in the foreclosure lawsuit, they retain their “senior lien” on the property.

• The buyer at the auction purchased the property with the mortgage still attached, and the new property owner is now responsible for paying off that mortgage—not you.

What This Means for You

• Since your mortgage lender either has no remaining claim or their lien transferred to the new owner, you are in the clear to claim the surplus funds.

• Our team at Visionary Surplus Recovery will ensure everything is handled correctly and the funds are rightfully returned to you.

The time you have to collect surplus funds can vary, but here’s the general timeline and key information:

1. Florida Statutes Timeline

• 60 Days: In Florida, you generally have up to 60 days after the foreclosure sale to file a claim for the surplus funds. This is the typical window to act, although this timeline can vary depending on the specifics of the case.

2. After One Year

• Sent to the Florida Treasury: After one year, the surplus funds are transferred to the Florida Treasury. While these funds can still be claimed from the treasury, the process is much more complex and can take significantly longer.

• Act Quickly: We recommend collecting the funds before the one-year mark to avoid these complications and ensure a smooth, timely process.

3. Risk of Fraud

• The biggest issue isn’t losing the funds to the state or county, but fraudulent claims. People monitor foreclosure cases, and if no one files for the funds within the first few months, they may attempt to fraudulently claim the funds by forging your signature or submitting false paperwork.

• Fraud Prevention: We’ve worked with homeowners who were victims of fraud, successfully defeating these claims and getting the funds disbursed to the rightful owner.

The Importance of Acting Quickly

To avoid any risks of fraud and ensure your claim is processed before the funds are sent to the Florida Treasury, it's crucial to file for the surplus funds as soon as possible after the foreclosure sale.

How Visionary Surplus Recovery Helps

• We handle the entire process, ensuring timely filing to avoid losing access to the funds.

• Our legal experts are well-versed in defending against fraudulent claims and ensuring your funds are returned to you.

• We protect your rights, so you can rest easy knowing that the process is being handled with care and efficiency.

Note: The best time to act is now! Don’t wait until it’s too late—let us help you recover your funds before the one-year deadline.

No, you will not have to pay anything upfront to claim your surplus funds when working with Visionary Surplus Recovery. Here’s how we handle the process:

No Out-of-Pocket Expenses

• Zero Upfront Costs: We cover all attorney fees, filing fees, and related expenses to recover your funds. You will not need to pay anything upfront to start the claim process.

• Contingency-Based: Our services are strictly contingency-based, which means we only get paid if and when you get paid.

• Success-Only Fees: If we are successful in recovering your surplus funds, our fee is taken as a percentage of the funds we recover.

What Does This Mean for You?

• No Risk: You have no financial risk by working with us. If we do not recover any funds for you, our services are 100% free.

• Peace of Mind: You can rest assured that there are no hidden costs or out-of-pocket payments required during the process.

How Visionary Surplus Recovery Helps

We handle everything for you from start to finish, covering the legal and administrative aspects while you focus on your life. We work with no upfront fees, ensuring that you can recover your surplus funds without worrying about paying for our services.

Note: If you’re concerned about paying for legal or processing fees, you can relax knowing that with Visionary Surplus Recovery, there are zero upfront costs for you.

If you choose not to collect the surplus funds, several things can happen:

1. Funds Are Sent to the Florida Treasury

• After One Year: If you don’t claim the funds within one year, they will be transferred to the Florida Treasury. However, unlike some states where unclaimed funds “escheat” to the state, in Florida the funds will remain claimable indefinitely.

• More Complex Process: While the funds will still be available, claiming them from the treasury is much more complex and can take significantly longer.

2. Potential Fraud Risks

• Fraudulent Claims: If you don’t file for the funds soon after the foreclosure sale, individuals monitoring foreclosure cases may attempt to fraudulently claim the funds for themselves, potentially by forging your signature or submitting false paperwork.

• Risk of Losing the Funds: If fraudulent claims are successful, it may become more difficult to recover the funds later on.

3. Missed Opportunity

• Forfeiting Your Right: If you choose not to collect the surplus funds, you are voluntarily forfeiting the money that rightfully belongs to you.

• No Guarantee After Treasury: Once the funds are sent to the treasury and the timeline has passed, reclaiming them becomes far more challenging, and there’s no guarantee of success.

How Visionary Surplus Recovery Helps

• Timely Action: We act quickly to ensure you claim the funds within the first year, avoiding the complications of having to go through the treasury.

• Fraud Prevention: Our team helps protect you from fraudulent claims, ensuring your funds are disbursed to you.

• Risk-Free Process: With zero upfront costs and a contingency-based fee structure, you have no financial risk in working with us.

What If You Don’t Want the Funds?

• Donate to Charity: If you decide not to keep the funds, we can work with you to donate them to a charity. Many of the charities we partner with assist homeowners facing foreclosure, or we can help you choose a charity of your preference to receive the funds on your behalf.

Note: While the funds will remain claimable forever, it’s best to act promptly to ensure that you don’t face delays or complications. Let us help you recover the funds before the one-year deadline and direct them to a cause you care about.

Yes, you may still be entitled to surplus funds even if there is a mortgage on the property. Here's how it works:

1. Mortgage vs. HOA Foreclosure

• Mortgage Is A Senior Lien: In a foreclosure, the mortgage is typically considered a "senior lien," meaning it takes priority over other liens, including HOA liens. When your property is sold at an HOA foreclosure, any proceeds from the sale that exceed the amount needed to satisfy the HOA debt may be considered surplus funds, which can be claimed by you.

• Mortgage Paid First: If the mortgage isn’t fully satisfied during the sale, the mortgage lender may still have a claim against the property. However, if there is any remaining amount after paying off the HOA lien, the surplus funds are yours to claim.

2. Surplus Funds After the Sale

• Claiming the Surplus: After the HOA foreclosure sale, the remaining funds, after all subordinate liens (such as the HOA lien) are paid, belong to the homeowner. As long as the mortgage wasn’t foreclosed in this specific action, you could be entitled to those surplus funds.

• Our Role: We can help you assess the situation and ensure that the surplus funds are correctly claimed, even if there is a mortgage on the property.

3. Complicated Situations

• If the mortgage was not paid in full, or if there are other complex lienholder issues, our specialists will review your case thoroughly and work with the necessary legal experts to secure the surplus funds for you.

How Visionary Surplus Recovery Helps

• No Out-of-Pocket Costs: We handle the legal and administrative process to recover surplus funds at no upfront cost to you.

• Expert Legal Support: If necessary, we will work with attorneys to ensure that all parties involved are properly accounted for, and that the funds are released to you.

• Success-Only Fees: Our services are contingency-based, so we only get paid if we successfully recover funds for you.

Note: Even if you have a mortgage on the property, you could still be entitled to surplus funds after an HOA foreclosure sale. Let us help you recover those funds with minimal hassle!

Other liens or mortgages may have a claim to the proceeds from the sale, but here’s how it works in regard to surplus funds:

1. Priority of Liens

• Senior Liens Take Priority: In a foreclosure sale, liens are paid in the order of priority. The first mortgage or any senior lien (such as a first-position mortgage) will be paid off before any subordinate liens. If there are multiple liens on the property, they will be paid off in this order, with any remaining funds (surplus) going to the homeowner.

• Subordinate Liens: Liens that come after the first mortgage, such as a second mortgage, HOA liens, or tax liens, are considered subordinate liens. These will only receive payment after the senior liens are paid off. If there are any funds left over after all subordinate liens are settled, those funds are available for you to claim.

2. Can Liens or Mortgages Claim Surplus Funds?

• Mortgage Not Named in Foreclosure: If a mortgage or lienholder wasn’t part of the foreclosure case (i.e., they weren’t named in the legal proceedings), they cannot claim any surplus funds.

• Paid in Full: If a subordinate lienholder was paid in full from the sale proceeds (like a second mortgage or HOA lien), they cannot claim the surplus either. Only liens or creditors that were not fully paid from the sale can make a claim to the funds.

3. Surplus Funds Are Yours

• If there are any surplus funds remaining after the sale, and the senior lienholders (such as the first mortgage) have been paid in full, then those funds belong to you.

• If there are multiple lienholders, our team will carefully review your case to ensure that all creditors and lienholders are accounted for and that the surplus is properly claimed by you.

Yes, you can still claim the surplus funds even if you are receiving Social Security, Medicaid, or other fixed income support. Here’s why:

1. Surplus Funds Are Not Considered Income

• No Impact on Benefits: The surplus funds you are entitled to from a foreclosure sale are not considered income. Therefore, they will not affect your Social Security, Medicaid, or other fixed income support benefits.

• One-Time Payment: These funds are typically a one-time payment that does not count toward the income thresholds for government assistance programs.

2. Discuss with Your Recovery Specialist

• Personalized Guidance: If you are concerned about the impact on your benefits, we encourage you to discuss your situation with your recovery specialist. We will review your specific circumstances and, if necessary, retain an attorney on your behalf to ensure that your income-based support is not disrupted by claiming the surplus funds.

3. Claiming the Funds

• You are still entitled to claim surplus funds, and there are no income restrictions for this type of claim. Our team is experienced in ensuring the process is smooth and does not interfere with your ongoing support benefits.