Florida at a glance
Checked against the sources cited, 2026-09-19
| Topic | What the law says, and where it says it |
|---|---|
| How foreclosure works here | Florida mortgages are foreclosed through a court case. Under the standard judicial sale procedure, the final judgment directs the clerk of the court to sell the property at a public sale, not less than 20 or more than 35 days after the judgment unless the plaintiff agrees to a later date. Fla. Stat. § 702.01; Fla. Stat. § 45.031(1)(a) Show the source textAll mortgages shall be foreclosed in equity. In a mortgage foreclosure action, the court shall sever for separate trial all counterclaims against the foreclosing mortgagee. |
| Who holds foreclosure surplus | The clerk of the court holds the surplus after a foreclosure sale until the court orders it paid out. The law presumes that the owner of record on the date the lis pendens was filed is entitled to the surplus, after subordinate lienholders who filed timely claims are paid. If the owner of record claims it before the clerk reports it as unclaimed and there is no subordinate lienholder, the court orders the clerk to deduct service charges and pay the rest to the owner; if anyone else claims an interest, the court holds an evidentiary hearing. Fla. Stat. § 45.032(2), (3)(a)-(b); Fla. Stat. § 45.031(7) Show the source textThere is established a rebuttable legal presumption that the owner of record on the date of the filing of a lis pendens is the person entitled to surplus funds after payment of subordinate lienholders who have timely filed a claim. |
| Claim window for foreclosure surplus | One year after the sale, any surplus still with the clerk that has not been paid out is presumed unclaimed and must be reported and sent to the Florida Department of Financial Services, unless a court proceeding about who is entitled to it is pending. A subordinate lienholder must file a claim with the clerk before the clerk reports the funds as unclaimed or lose the right to them. After the money goes to the Department, only the owner of record reported by the clerk, or the beneficiary of a deceased owner of record, is entitled to it. A surplus of less than $10 escheats to the clerk. Fla. Stat. § 45.032(3)(c); Fla. Stat. § 45.031(1)(a), (7)(b); Fla. Stat. § 717.113 Show the source textOne year after the sale, any surplus remaining with the clerk of the court that has not been disbursed as provided herein is presumed unclaimed as set forth in s. 717.113 and must be reported and remitted to the department |
| Tax sale excess proceeds | Florida sells tax certificates (liens) first; after two years the certificate holder can apply for a tax deed, and the clerk of the circuit court then sells the property at public auction. If the property sells for more than the certificate holder's statutory bid, the clerk pays government liens from the surplus, holds the balance for the former owner and lienholders, and mails them a notice of surplus funds. A person who receives the notice has 120 days from its date to file a written claim with the clerk; late claims are barred, except claims by the property owner. If no claims arrive within the 120 days, the titleholder of record is conclusively presumed entitled to the surplus and the clerk must process the money under chapter 717, the state's unclaimed (abandoned) property law. Fla. Stat. § 197.582(2)-(3), (5), (9); Fla. Stat. § 197.432(1); Fla. Stat. § 197.502(1); Fla. Stat. § 197.542(1) Show the source textExcept for claims by a property owner, claims that are not filed on or before close of business on the 120th day after the date of the mailed notice as required by subsection (2), are barred. |
| Redemption after the sale | Florida gives no redemption period after the foreclosure sale is complete. The borrower, or the holder of a subordinate interest, can stop the foreclosure by paying the amount specified in the judgment at any time before the later of the clerk's filing of the certificate of sale or the time stated in the judgment. The statute says that otherwise there is no right of redemption. Fla. Stat. § 45.0315 Show the source textplus the reasonable expenses of proceeding to foreclosure incurred to the time of tender, including reasonable attorney's fees of the creditor. Otherwise, there is no right of redemption. |
| Rules for recovery companies | Foreclosure surplus held by the clerk: anyone claiming the surplus as an assignee of the owner of record must prove entitlement to the court. A voluntary transfer or assignment qualifies only if it is in writing, makes the required financial disclosures, states that the owner does not need an attorney or other representative to recover surplus funds, specifies all consideration paid, is filed with the court within 60 days after the clerk files the certificate of disbursements, and the total compensation does not exceed 12 percent of the surplus. Money already sent to the Department of Financial Services: only a registered claimant representative (a Florida-licensed attorney, Florida certified public accountant, or Florida-licensed private investigator holding a certificate of registration from the Department) may file claims for a fee, only on the Department's Abandoned Property Recovery Agreement or Purchase Agreement form, with total fees and costs of no more than 30 percent of the claimed amount, payable only after the claim is approved. Any other fee agreement for that property is void. Fla. Stat. § 45.033(1)-(5); Fla. Stat. § 45.032(2); Fla. Stat. § 717.135(2)(j), (4)-(7); Fla. Stat. § 717.1400(1); Fla. Stat. § 717.101(12) Show the source textThe total compensation paid or payable, or earned or expected to be earned, by the transferee or assignee does not exceed 12 percent of the surplus. |
How surplus funds arise in Florida
When a home in Florida is sold at a foreclosure sale or a tax sale for more than the debt and the costs of the sale, the money left over is surplus funds, also called excess proceeds or overage. It does not belong to the lender or to the buyer. Liens recorded behind the foreclosed debt are paid first, and what remains belongs to the former owner or to the owner's heirs. Read surplus funds explained for the general rules and liens and competing claims for the order of payment.
How a claim moves in Florida
We confirm the sale figures in the public record, identify which office in Florida is holding the money, and prepare and file the claim the way that office requires, advancing the costs. Because we bring the whole record with us, the claim does not stall on a missing document, a competing name or a missed date. See how to qualify for what we handle and what you provide. Notices about surplus are usually mailed to the last address on record, which is often the home that was sold, so do not wait for a letter. In Florida that program is the Division of Unclaimed Property, Florida Department of Financial Services (public site: Claim Your Cash Florida).
If the owner has died
The right to the money belongs to the estate. Depending on the size of the estate, Florida law may allow a simplified procedure, or a probate court may need to appoint a personal representative. See estate and heir recovery and probate assistance.
Working with a recovery company in Florida
Florida regulates this kind of service. Foreclosure surplus held by the clerk: anyone claiming the surplus as an assignee of the owner of record must prove entitlement to the court. A voluntary transfer or assignment qualifies only if it is in writing, makes the required financial disclosures, states that the owner does not need an attorney or other representative to recover surplus funds, specifies all consideration paid, is filed with the court within 60 days after the clerk files the certificate of disbursements, and the total compensation does not exceed 12 percent of the surplus. Money already sent to the Department of Financial Services: only a registered claimant representative (a Florida-licensed attorney, Florida certified public accountant, or Florida-licensed private investigator holding a certificate of registration from the Department) may file claims for a fee, only on the Department's Abandoned Property Recovery Agreement or Purchase Agreement form, with total fees and costs of no more than 30 percent of the claimed amount, payable only after the claim is approved. Any other fee agreement for that property is void. (Fla. Stat. § 45.033(1)-(5); Fla. Stat. § 45.032(2); Fla. Stat. § 717.135(2)(j), (4)-(7); Fla. Stat. § 717.1400(1); Fla. Stat. § 717.101(12))
Any agreement you sign, with us or with anyone else, has to follow that rule.
No out-of-pocket expense. Our only payment is a completion fee taken from the surplus once it is recovered. Where your state requires a licensed attorney for a court or probate filing, a licensed attorney handles it, and you still pay nothing out of pocket. Before you sign with anyone, read what a surplus funds scam looks like.
Questions about surplus funds in Florida
Enough to prove who you are and how you held the property: identification, the deeds, any notice you received, and, if the owner has died, the estate paperwork. We do the rest for Florida, from locating the funds to filing the claim.
The clerk of the court holds the surplus after a foreclosure sale until the court orders it paid out. The law presumes that the owner of record on the date the lis pendens was filed is entitled to the surplus, after subordinate lienholders who filed timely claims are paid. If the owner of record claims it before the clerk reports it as unclaimed and there is no subordinate lienholder, the court orders the clerk to deduct service charges and pay the rest to the owner; if anyone else claims an interest, the court holds an evidentiary hearing.
No out-of-pocket expense. We advance the costs and are paid a completion fee from the surplus only after it is recovered. Where a court or probate filing requires a licensed attorney, a licensed attorney handles it.