What are excess proceeds?
Excess proceeds, also called surplus funds, are the extra money remaining after a property is sold at a tax deed or foreclosure auction. When the winning bid exceeds the amount owed in taxes, fees, and penalties, the leftover money belongs to the former property owner or other lienholders. Recovering these funds can be complicated, which is where specialized recovery services like Lumora Recovery Services can help.

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What is a tax deed sale?
A tax deed sale is a property auction conducted by counties or local governments to recover unpaid property taxes, along with any fees, interest, and penalties. These sales occur when property owners have not paid their taxes for an extended period.

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Why did the county sell my property?
If property taxes remain unpaid for a certain period (usually one year or more), the county or local government has the authority—often after a waiting period of two years or more—to auction the property at a tax deed sale. The exact timing and procedures vary by state and county, and sometimes properties are sold many years after taxes become delinquent.

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Why didn’t the county contact me before the sale?
Counties are generally required to notify property owners about upcoming sales by mailing notices to the address they have on file. However, counties are not obligated to perform extensive searches to locate the current owner or send additional notices if the mail is undeliverable. Notification requirements vary depending on local laws.

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Why is there money still remaining after the sale?
The opening bid for each property in a tax deed sale represents the amount the county must recover, including all outstanding taxes, interest, penalties, and fees. Any amount paid by the winning bidder beyond this figure is considered surplus. Surplus funds are held by the county and the owner, mortgage holders, and lienholders are notified by addresses on record. Surplus funds are generally held for one year before being transferred to the state.

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Why should I use Lumora Recovery Services?
At Lumora Recovery Services, we specialize in recovering tax auction surplus funds for our clients while protecting their rights. With extensive experience and a reputation for honesty and excellence, we navigate complex county procedures on your behalf. Counties have limited resources and expertise to assist owners, so working with us increases your chances of success.

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How were you able to contact me?
Our team uses advanced internet and software tools to locate property owners and family members. We also utilize information provided by counties to connect with clients efficiently.

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What do I have to do and what information do you need?
Once you choose Lumora Recovery Services to assist you, we prepare all necessary documents and arrange for a notary in your area to meet with you to sign the agreement. The notary returns the paperwork to us, and we handle all submissions to the county. If probate is required, we coordinate with specialized attorneys to guide you through the legal process.

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How much do you charge?
Lumora Recovery Services only gets paid if we successfully recover your surplus funds. Our fee is a percentage of the recovered amount, agreed upon in the contract. All costs during the process are covered by us from that percentage. There are no upfront fees or out-of-pocket costs for you.

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How long will it take to receive my money?
States require counties to wait a mandatory period (often 120 days) after the auction and surplus notification before disbursing funds. This time allows for claims to be submitted and processed.

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Who bought my property and can I get it back?
Properties sold at tax deed auctions are purchased by individuals, investors, or investment companies. Once the winning bid is paid and the tax deed issued, the purchaser becomes the legal owner. If you wish to buy the property back, you must contact the new owner, who will likely expect a profit.

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How certain are you that you will recover the surplus?
Lumora Recovery Services has expert knowledge of tax deed sales and surplus recovery processes. We work with counties across various states and have a strong success record. Since we only get paid upon success, we are highly motivated to achieve the best outcome for you.

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Why does the county have to wait months to disburse the money?
State laws regulate the timeline for claiming and disbursing surplus funds. For example, Florida Statute 197.582 mandates a 120-day waiting period after the auction for claimants other than the property owner to submit notarized claims. Other states have different timelines and requirements.

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What is probate and how long does it take?
Probate is a legal process to prove ownership of a deceased person's assets and distribute them to rightful heirs. If the property owner is deceased, a court-supervised probate must be completed before surplus funds can be released to heirs. Lumora Recovery Services manages this process, including hiring probate attorneys. The process usually takes one to two months, depending on complexity.

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Can I obtain the surplus on my own?
While it’s possible to submit surplus claims yourself in straightforward cases, the process involves many challenges, including document requirements, competing claims, fraud risks, and strict deadlines. Lumora Recovery Services handles all communications with the county, monitors your claim, and manages any legal or administrative hurdles to maximize your chances of recovering your funds.