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 Bexar Texas Petition for Release of Excess Proceeds and Notice of Hearing is a crucial legal document in Texas that pertains to the distribution of excess funds resulting from a foreclosure sale. When a property is sold at a foreclosure auction, the amount garnered from the sale may surpass the outstanding debt owed by the homeowner. In such cases, the excess proceeds are held by the court to be distributed accordingly. To claim these surplus funds, interested parties can file a Bexar Texas Petition for Release of Excess Proceeds and Notice of Hearing. The purpose of this petition is to request the court's approval for the release of the excess proceeds to the rightful claimants or parties involved. It is essential to follow the correct legal procedures when filing this petition to ensure that all stakeholders' interests are protected. The Bexar Texas Petition for Release of Excess Proceeds and Notice of Hearing must be carefully prepared with accurate information to avoid any delays or complications during the distribution process. Upon filing the petition, interested parties must include relevant details such as their names, contact information, the case number related to the foreclosure sale, and a clear statement explaining their claim to the surplus funds. It is crucial to provide supporting evidence, including documentation and receipts, to substantiate the claim. Furthermore, the petition should contain a proposed order that outlines how the excess proceeds should be distributed among the claimants. It is worth noting that there may be different types or variations of the Bexar Texas Petition for Release of Excess Proceeds and Notice of Hearing, depending on the specific circumstances. For example, there might be separate petitions for individual claimants, lien holders, or other interested parties entitled to a portion of the excess funds. Each type of petition may have its unique filing requirements, so it is essential to consult with an attorney or legal professional to ensure compliance and maximize the chances of a successful claim. In conclusion, the Bexar Texas Petition for Release of Excess Proceeds and Notice of Hearing is a legal document used to claim surplus funds resulting from a foreclosure sale. By following the proper procedures and providing accurate information, interested parties can seek the court's approval for the release of these excess proceeds. It is crucial to consult with legal professionals or specialized attorneys experienced in foreclosure matters to navigate the complexities of the process effectively.
