Education

What is asset recovery?

Asset recovery can include identifying and claiming surplus funds left after a property is sold at auction for more than the taxes, fees, and costs owed.

How auction overages happen.

Suppose a property’s assessed value is $75,000. Bidding at the auction starts at the amount of back taxes, such as $5,000. Aggressive bidders push the auction price up to $45,000.

The full $45,000 is paid to the county or treasurer. If the delinquent taxes were only $5,000, the difference may create a $40,000 overage.

Example

Sale price$45,000

Taxes owed$5,000

Possible overage$40,000

Claiming asset recovery funds.

The county’s responsibility is generally to sell the property, satisfy the delinquent taxes, and hold any remaining proceeds according to applicable law. Any excess funds may belong to the property owner or other rightful claimant, depending on liens, priority, ownership, and deadlines.

Important: Recovery Asset Group is not a government agency, law firm, or guarantee of payment. Claims must be supported by records and reviewed under the rules of the applicable jurisdiction.

Schedule a consultation.

A timely review can help preserve the opportunity before funds are transferred, escheated, or otherwise lost.

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