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.
Amarillo Texas Petition for Release of Excess Proceeds and Notice of Hearing is a legal document that pertains to the disposition of funds resulting from the sale of property in Amarillo, Texas. This petition serves as a request to release any surplus money or excess proceeds that may have been generated from the sale of the property. The purpose of the Petition for Release of Excess Proceeds is to claim these funds by individuals or entities with a legal interest in the property or its proceeds. It allows rightful claimants to assert their rights to the surplus funds and present their case before a court of law. The Notice of Hearing is an accompanying document that provides a detailed notification to all interested parties about the scheduled court hearing related to the release of excess proceeds. The notice indicates the date, time, and location of the hearing, as well as the specific case and details regarding the property sale. Different types of Amarillo Texas Petition for Release of Excess Proceeds and Notice of Hearing may include: 1. Individual Petition: This type of petition is typically filed by an individual who holds a legal interest in the property and seeks to claim the excess proceeds from its sale. 2. Entity Petition: In cases where the property is owned by a corporation, partnership, or any other legal entity, an entity petition may be filed to assert the entity's rights to the surplus funds. 3. Adjoining Property Owner Petition: In situations where a neighboring property owner can demonstrate a legal interest in the sold property, they may file a petition to request a share of the excess proceeds. 4. Legal Representative Petition: If the property owner is deceased or incapacitated, their legal representative, such as an executor, administrator, or guardian, may file a petition on behalf of the estate or the individual represented. It is crucial to use relevant keywords in the content to increase the chances of reaching the intended audience. Keywords that could be incorporated in the content include Amarillo Petition for Release of Excess Proceeds, Amarillo Notice of Hearing, Amarillo Texas property sale, excess proceeds distribution in Amarillo Texas, legal interest in Amarillo property, petition for surplus funds in Amarillo, and claiming excess proceeds in Amarillo Texas.
