Sec. 34.04 of the Texas Tax Code provides in part as follows:
(a) A person, including a taxing unit, may file a petition in the court that ordered the seizure or sale setting forth a claim to the excess proceeds. The petition must be filed before the second anniversary of the date of the sale of the property. The petition is not required to be filed as an original suit separate from the underlying suit for seizure of the property or foreclosure of a tax lien on the property but may be filed under the cause number of the underlying suit.
(b) A copy of the petition shall be served, in the manner prescribed by Rule 21a, Texas Rules of Civil Procedure, as amended, or that rule's successor, on all parties to the underlying action not later than the 20th day before the date set for a hearing on the petition.
(c) At the hearing the court shall order that the proceeds be paid according to the following priorities to each party that establishes its claim to the proceeds:
(1) to the tax sale purchaser if the tax sale has been adjudged to be void and the purchaser has prevailed in an action against the taxing units under Section 34.07(d) by final judgment;
(2) to a taxing unit for any taxes, penalties, or interest that have become due or delinquent on the subject property subsequent to the date of the judgment or that were omitted from the judgment by accident or mistake;
(3) to any other lienholder, consensual or otherwise, for the amount due under a lien, in accordance with the priorities established by applicable law;
(4) to a taxing unit for any unpaid taxes, penalties, interest, or other amounts adjudged due under the judgment that were not satisfied from the proceeds from the tax sale; and
(5) to each former owner of the property, as the interest of each may appear.
(d) Interest or costs may not be allowed under this section.
(e) An order under this section is appealable.
The Carrollton Texas Petition for Release of Excess Proceeds is a legal document that allows individuals to request the release of any surplus funds resulting from the sale or foreclosure of their property. This petition enables residents of Carrollton, Texas, to reclaim any additional funds left over after satisfying outstanding debts such as taxes, liens, or mortgages. The purpose of the Carrollton Texas Petition for Release of Excess Proceeds is to provide a transparent process for property owners seeking to recover their entitled surplus amounts. By filing this petition, individuals demonstrate their rightful claim to the excess proceeds and can take the necessary steps towards securing their funds. In addition to the general petition process, there may be specific types of Carrollton Texas Petition for Release of Excess Proceeds and Notice of Hearing. These types could include: 1. Residential Property Excess Proceeds Petition: This type of petition pertains specifically to surplus funds resulting from the sale or foreclosure of residential properties in Carrollton, Texas. It allows homeowners or former property owners to reclaim any excess proceeds from their property's sale. 2. Commercial Property Excess Proceeds Petition: Designed for owners or former owners of commercial properties within Carrollton, this type of petition addresses the surplus funds generated from the sale or foreclosure of such properties. It enables individuals to initiate the process of securing their entitled excess proceeds. 3. Tax Lien Excess Proceeds Petition: This type of petition caters to individuals who have had their property sold due to unpaid taxes in Carrollton, Texas. By filing this specific petition, property owners can claim any excess proceeds left after satisfying the outstanding tax debt. 4. Mortgage Excess Proceeds Petition: Homeowners who have experienced foreclosure and had their property sold due to outstanding mortgage payments in Carrollton, Texas, can utilize this petition to recover any remaining surplus funds from the sale. When filing a Carrollton Texas Petition for Release of Excess Proceeds and Notice of Hearing, individuals are advised to follow the specific guidelines provided by the Carrollton City Government. This process typically necessitates proper documentation, including proof of ownership, sale records, lien or tax payment history, and other relevant paperwork. The Notice of Hearing serves as a means to inform interested parties about the upcoming hearing regarding the petition for surplus funds release. It notifies potential claimants, lien holders, creditors, and the public of the scheduled hearing date and time. This allows interested parties to attend the hearing, present their own claims, or contest the petition if necessary. By adhering to the proper procedures and filing a Carrollton Texas Petition for Release of Excess Proceeds and Notice of Hearing, individuals can take the necessary steps towards reclaiming surplus funds resulting from the sale or foreclosure of their property in Carrollton, Texas.
