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 Beaumont Texas Petition for Release of Excess Proceeds and Notice of Hearing is a legal document that allows individuals in Beaumont, Texas, to request the release of excess funds from a sheriff's sale or foreclosure sale. This petition is crucial for those who want to receive their rightful share of the proceeds resulting from the sale of a property. The petition is filed with the Beaumont Texas court system and includes detailed information such as the property address, the seller's name, and the amount of excess funds at issue. It is essential to provide accurate and complete information to increase the chances of a successful petition. There are various types of Beaumont Texas Petition for Release of Excess Proceeds and Notice of Hearing, each serving a specific purpose: 1. Sheriff's Sale Excess Proceeds Petition: This type of petition is filed after a property is sold through a sheriff's sale. In cases where the winning bid exceeds the outstanding debt, the excess proceeds are held by the court. The petition allows the rightful owner of the excess funds to request their release. 2. Foreclosure Sale Excess Proceeds Petition: When a foreclosed property is sold, the excess proceeds, which are the surplus amount after satisfying the outstanding mortgage and related fees, are held by the court. The foreclosure sale excess proceeds petition enables the rightful owner to reclaim these funds. 3. Tax Sale Excess Proceeds Petition: In cases where a property is sold due to tax delinquency, any excess funds resulting from the sale are retained by the court. This specific petition is used to request the release of the surplus funds to the eligible party. 4. Trustee's Sale Excess Proceeds Petition: Trustee sales are conducted to satisfy a defaulted loan or mortgage. If the sale generates excess proceeds, this petition is utilized to seek the release of the surplus funds to the appropriate party. 5. Notice of Hearing: The Beaumont Texas Petition for Release of Excess Proceeds and Notice of Hearing also includes a section dedicated to notifying all interested parties of the upcoming hearing. This is essential to ensure transparency and allow involved parties to present their claims or objections. In summary, the Beaumont Texas Petition for Release of Excess Proceeds and Notice of Hearing serves as a legal tool for individuals to claim their rightful portion of excess funds resulting from various types of property sales. By submitting a comprehensive and accurate petition, one can increase the likelihood of successfully receiving the surplus funds.
