Frequently Asked Questions

Surplus funds, sometimes known as  “excess funds,” refer to the additional funds generated when a property is sold at auction following a foreclosure process. Whether it be an association foreclosure, mortgage foreclosure, or a tax-deed foreclosure, the property often fetches a price higher than the amount it was foreclosed for. These additional funds, termed as a “surplus,” legally belong to the original homeowner or their heirs.

If you're not listed as the owner in the county records, it means you have been identified as a potential heir to that individual. In instances where the property owner has passed away, and their property undergoes foreclosure, the rightful individuals entitled to claim any surplus are the next of kin or "heirs" of the deceased person. Our attorneys are highly experienced in handling such cases and specialize in assisting individuals in similar situations.

Our system employs the latest technology to audit and identify potential funds held by state and local governments. This data is then utilized by our research team to cross-reference public records, pinpointing individuals who may have a legal entitlement to claim those funds.

The county is required to notify the owners of an upcoming sale. However, it is only required to mail notice to the address on file with the tax collector or tax appraiser. Counties are not required to search for a current address or undertake more extensive means to locate a property owner.

The opening bid for each property in a foreclosure auction sale typically reflects the sum required to satisfy the court judgment. Any additional funds paid by the winning bidder constitute a surplus, which is subsequently retained by the county. The handling of surplus funds varies by county, with some jurisdictions only holding them for a set period before either incorporating them into county funds or transferring them to the state.

In the majority of cases, the recovered funds are placed into our attorney's escrow account. Subsequently, the attorney will facilitate the disbursement of the funds to our client either through a direct deposit or by mailing a check, as per the client's chosen method of payment.

If the property owner has passed away, it is essential to initiate a court-supervised probate process to delineate the deceased individual's assets, ascertain rightful beneficiaries, and facilitate the distribution of assets to those entitled. Counties typically require completion of the probate process and submission of judgments before releasing proceeds from property sales to the deceased owner's heirs. QP Recovery Services manages this entire process; our attorney partners are experts in probate matters, handling document preparation and collaboration with the court.

You will not pay any upfront charges, or out of pocket costs or retainer fees. We receive payment once we have successfully recovered the funds on your behalf. This will be covered in detail in our service agreement.