Just a general question in regards to sheriff's sales. If a property is sold on sheriff's auction for more than what is owed, what happens to the excess money? Who gets it?
It goes to the owner assuming they apply for it, after all liens are paid, assuming the lien holders make an application for it. If no one applies for it, it's generally "held" by the state after a certain period of time.
@Account Closed the excess money goes to the owner however if there's any liens excetera then those people who have the leans a creditors on the property go first any thing left over then goes back to the owner you can always make a deal with the owner at the auction and so on.
@Rafael Floresta this is not correct all states have the same legislative wording pretty much which basically says exceeds proceeds go to the owner or any lien holders creditors and so forth after a while it is to be held by state and if it doesn't go through the owners and no picked up and such time the limitations of statues state that it most likely will reverse back to them and municipality or the state.