Surplus Funds — New Jersey
It May Not Be Too Late — You Could Be Owed Money.
In some foreclosure and tax sale situations, homeowners may still be entitled to surplus funds left over after the sale. Many people never realize the money exists — or don't know how to claim it. Island Investors LLC helps South Jersey homeowners understand what next steps may make sense.
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Understanding Surplus Funds in New Jersey
When a home is sold at a foreclosure auction or tax sale for more than the total amount owed — mortgage, taxes, fees — the excess amount is called surplus funds. Under New Jersey law, these funds belong to the former homeowner. But many people never claim them because they didn't know the money existed, or didn't know where to start.
Who May Be Eligible
- Former homeowners whose properties were sold at sheriff's sale
- Former owners after a tax lien foreclosure
- Heirs of former owners in some circumstances
How Surplus Funds Are Claimed in New Jersey
The process involves filing a motion with the court that handled the foreclosure. Surplus funds are typically held by the court or the county for a defined period of time — after which they may be forfeited if unclaimed. Deadlines vary, so it's worth looking into sooner rather than later.
Island Investors works with experienced New Jersey attorneys who regularly handle foreclosure-related situations and surplus fund claims. We can connect you with someone who can help.
Still at Risk of Losing Your Home?
If you're currently facing foreclosure or a tax sale — not yet past it — there may be options to preserve your equity before an auction occurs. Reach out and we'll talk through your situation together.