What are surplus funds?
Surplus funds (or excess proceeds) occur when a property is sold at a public auction or foreclosure sale for an amount that exceeds the outstanding debt or tax judgment. The remaining balance rightfully belongs to the former owner or legal heirs.
Why didn’t the court or county notify me?
Counties send notices to the last known address on record, which is often the property that was just sold. As a result, many property owners are completely unaware that these funds exist.
Do I have to pay anything upfront?
No. Castleridge, SRG operates on a strictly contingent basis. All legal and administrative expenses, filing fees, and research costs are covered by us, and our fee is only collected as a percentage or flat fee (depending on the complexity of the case) of the funds successfully recovered.
How long does the recovery process take?
Timelines vary based on the specific details of each case. Key factors that influence the recovery schedule include:
- Case Type: Judicial vs. non-judicial sales.
- Ownership Status: Living owner vs. deceased owner, or multiple legal owners.
- Estate Details: Whether the property is held in a trust, in probate, or governed by a will or right of heirship.
- Jurisdiction: Specific state laws, county court schedules, and trustee processing times.
During your initial consultation, a Surplus Specialist will review the unique details of your case and provide a clear, tailored timeline estimate.