Am I entitled to a property tax excess?
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Am I entitled to a property tax excess?
I have a lein against a piece of property that was auctioned for back taxes. I have the second lein on the property the first lein is held by a bank. The sale took place in earlier this year and there was an excess of about 70k. The bank has not made any attempt to collect the excess. Do I have any chance of trying to lay claim to the excess funds?
Asked on August 13, 2012 under Real Estate Law, Georgia
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Under the laws of all states in this country, if a piece of real property is auctioned off for unpaid property taxes and their is a surplus left after the property taxes are paid as well as the fees for the auction, the first lien holder is then paid with any of the excess. If their is money left over after the first lien holder is paid, then the second lien holder then is entitled to the amount and so on.
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