Petition for Release of Excess Proceeds and Notice of Hearing Texas Form
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People also ask
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What is the law on excess proceeds in Texas?
Texas Law on Excess Proceeds Excess Proceeds: If more than $25 is left from the foreclosure sale of your home after the lien and any costs are paid, you are entitled to claim that money. Time Limits: You must file a claim for excess proceeds within two years of the sale of the property.
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How do I claim foreclosure overage in Texas?
Section 34.04 - Claims for Excess Proceeds (a) A person, including a taxing unit and the Title IV-D agency, may file a petition in the court that ordered the seizure or sale setting forth a claim to the excess proceeds. The petition must be filed before the second anniversary of the date of the sale of the property.
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Is there a statute of limitations on foreclosure in Texas?
Texas Civil Practice and Remedies Code Section 16.035 places a 4-year statute of limitations on foreclosure actions though there are some exceptions to this law.
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What is a petition for release of excess proceeds in Texas?
Section 34.04 - Claims for Excess Proceeds (a) A person, including a taxing unit and the Title IV-D agency, may file a petition in the court that ordered the seizure or sale setting forth a claim to the excess proceeds. The petition must be filed before the second anniversary of the date of the sale of the property.
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How long is the redemption period after foreclosure in Texas?
Payment: Once you calculate the redemption price, the individual must pay this amount within the specified redemption period—two years for homestead properties and six months for non-homestead properties (Texas Property Code § 51.003).
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How much are attorney fees for excess proceeds in Texas?
You may hire an attorney to bring your claim. Be aware that an attorney cannot charge you more than either 25% of the amount you receive or $1,000, whichever is less. (TEX. TAX CODE §34.04(i)).
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How much are attorney fees for excess proceeds in Texas?
You may hire an attorney to bring your claim. Be aware that an attorney cannot charge you more than either 25% of the amount you receive or $1,000, whichever is less. (TEX. TAX CODE §34.04(i)).
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How to claim surplus funds from foreclosure in Texas?
The former owner will have to petition the county to turn over the surplus funds. If no one petitions to recover them, the surplus funds generally can be held by the county for two years before they are distributed to the taxing bodies that foreclosed on the property.
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