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 San Angelo Texas Petition for Release of Excess Proceeds and Notice of Hearing is a legal document that pertains to the distribution of surplus funds resulting from a tax sale or foreclosure sale in San Angelo, Texas. This petition serves as a request filed by interested parties to claim their share of the excess proceeds from the sale. Key terms and keywords related to the San Angelo Texas Petition for Release of Excess Proceeds and Notice of Hearing include: 1. Excess proceeds: Refers to the surplus funds generated from a tax sale or foreclosure sale that exceed the amount needed to satisfy the outstanding debts and fees associated with the sale. 2. Petition: The formal written request submitted to the court by interested parties, such as the property owner or lien holder, seeking the release of their portion of the excess proceeds. 3. Notice of hearing: The official document that provides notification to all relevant parties involved in the case regarding the date, time, and location of the hearing where the petition for release of excess proceeds will be addressed. 4. Distribution: The process by which the excess proceeds are allocated among the eligible parties based on their respective liens or claims on the property. 5. Tax sale: A sale of property conducted by the government or taxing authority to recover delinquent taxes owed by the property owner. 6. Foreclosure sale: The sale of a property by a lender or creditor to recover unpaid debts secured by the property, typically due to mortgage default or non-payment. 7. Property owner: The individual or entity who owns the property that was subject to the tax or foreclosure sale, and who may be entitled to a portion of the excess proceeds. 8. Lien holder: A party that holds a legal claim or lien on the property, such as a mortgage lender or judgment creditor, which may entitle them to a share of the excess proceeds. Different types of San Angelo Texas Petition for Release of Excess Proceeds and Notice of Hearing may include variations based on the specific circumstances of the tax or foreclosure sale, as well as the types of claims or liens involved in the case. Examples of variations include: — San Angelo Texas Petition for Release of Excess Proceeds and Notice of Hearing (Tax Sale) — San Angelo Texas Petition for Release of Excess Proceeds and Notice of Hearing (Foreclosure Sale) — San Angelo Texas Petition for Release of Excess Proceeds and Notice of Hearing (Property Owner) — San Angelo Texas Petition for Release of Excess Proceeds and Notice of Hearing (Lien holder)
