Surplus funds can also be referred to as an "overage", or "excess funds". When a property goes into foreclosure, it sells at auction. For example, the foreclosure may be an association foreclosure, a mortgage foreclosure, or a tax-deed foreclosure. In any case, when the property sells, it often sells for more than the amount for which it was being foreclosed on. These excess funds are called a "surplus", and these excess funds belong to the original homeowner, or heirs to the original homeowner.

You have been identified as the appropriate party to claim these funds because property you owned has gone through a foreclosure or tax sale, or because you are an heir to property that has gone through sale.

The funds we are calling you about are held in the county court registry. They are the result of an association foreclosure, a mortgage foreclosure, or a tax-deed foreclosure sale, where the amount the property sold for at auction is more than the amount it was being foreclosed on for. These are called “surplus funds".

If you utilize our services, we will never ask you to pay us a dollar out of your pocket. Our company will advance all costs and fees to process your claim. We are paid back at the end once we have secured the funds on your behalf. This will also be included in the agreement.

While in non-probate cases it is certainly possible to submit a surplus claim by yourself, Sterling Asset Services’ experience and expertise ensures the best result in dealing with the challenges of the process: various document requirements, competing and fraudulent claims, statutory time limits and other administrative issues. We work directly with the county retaining the surplus, addressing all claims processing issues, monitoring status changes and doing everything else necessary to ensure you receive your surplus money.

Absolutely. Surplus funds recovery is fully legal and protected by the Constitution. In 2023, the U.S. Supreme Court unanimously ruled in Tyler v. Hennepin County that surplus funds are the property of the former owner — the government cannot keep them.