Tax Sale Overages Explained
Tax sale overages may result when a property is sold through a tax-related sale and the amount generated is greater than the required taxes, fees, and other sale-related amounts.
What Are Tax Sale Overages?
Tax sale overages are money that may remain after a tax-related property sale when the total sale amount is greater than the taxes, fees, and other required amounts tied to that sale.
Why People Miss This
Common Signs
A situation may be worth looking at more closely if you know a property went through a tax sale or you received a notice tied to a tax-related sale.
Tax Deed Sale
The property was sold at a public tax deed auction.
Excess Funds
The winning bid was higher than the opening bid (taxes owed).
Notice Received
A clerk or third party sent a notice regarding excess proceeds.
Start With a Review
If you believe a tax-related property sale may have created leftover funds, the most helpful first step is understanding whether the situation may apply to you. Learning who can claim excess proceeds is often the best place to start.