How to Claim Excess Proceeds After a Texas Property Auction

If your Texas property was sold at auction for more than what you owed, you might be entitled to collect the remaining balance, known as excess proceeds. Here’s a step-by-step guide on how to claim these funds in Texas:

1. Verify Your Eligibility

Excess proceeds from a Texas property auction are typically available to the original property owner or certain lienholders, such as mortgage or tax lienholders. Under Texas law, these funds go to the property owner after all outstanding debts tied to the property are paid off.

2. Locate the Excess Proceeds

After the property auction, any surplus funds are held by the county or agency that managed the sale, which could be the county tax assessor’s office or constable’s office.

3. Submit a Claim for Excess Proceeds

To collect excess proceeds in Texas, you’ll need to file a claim with the appropriate county office, usually within two years of the auction date. This claim should include:

  • Proof of property ownership at the time of sale (e.g., deed or mortgage)
  • Personal identification
  • Any additional documentation required by the county

4. Wait for Review and Approval

Once submitted, your claim will be reviewed to ensure there are no other claims or liens on the funds. If your claim is approved, you’ll receive the excess proceeds directly from the county office.

Conclusion

Texas property owners have a right to claim excess proceeds from their property auction sales. Knowing the correct steps and acting promptly can help you recover any additional funds owed to you. Be sure to check with your local county office for specific requirements and forms.

For more details on Texas property auctions and your rights as a former property owner, stay tuned to our blog!

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