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Our platform is dedicated to aiding in the recovery of tax and mortgage excess proceeds. Featuring Alaska as a highlighted example, our website offers a glimpse into the extensive data and resources available to our users.
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Our platform is dedicated to aiding in the recovery of tax and mortgage excess proceeds. Featuring Alaska as a highlighted example, our website offers a glimpse into the extensive data and resources available to our users.
Engage with UsWe encourage you to register for our upcoming webinars to delve deeper into our services and discover how you can benefit. For more information about our offerings or to ask any questions, please do not hesitate to contact us at Help@GovernmentPayback.org.
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Surplus Funds List
Welcome to Our Website
Welcome to Our Website
In Alaska, Alaska Statute 29.45.480 outlines the procedures related to tax foreclosures, including the distribution of surplus funds. While the statute does not explicitly designate a contact for obtaining a surplus funds list, this information is typically managed by the municipal treasurer or tax collector's office in the municipality
In Alaska, Alaska Statute 29.45.480 outlines the procedures related to tax foreclosures, including the distribution of surplus funds. While the statute does not explicitly designate a contact for obtaining a surplus funds list, this information is typically managed by the municipal treasurer or tax collector's office in the municipality where the property is located.
Section 29.45.480 - Proceeds of Tax Sale:
(a) Proceeds from the sale of foreclosed property are divided between the borough and the city based on the unpaid taxes.
(b) If tax-foreclosed property is sold within 10 years and not used for a public purpose, the former owner is entitled to surplus proceeds. The municipality must notify the former owner of any excess funds, which can be claimed within six months. Claims filed after six months are barred.
Population Matters
Welcome to Our Website
Right of Redemption
Not all areas in Alaska have a large enough population to support a property tax system, meaning property tax foreclosures may not occur in these regions. In rural areas, cities within boroughs may have foreclosures, but the surrounding rural borough might not. For large, populated boroughs, surplus funds from foreclosures are typically h
Not all areas in Alaska have a large enough population to support a property tax system, meaning property tax foreclosures may not occur in these regions. In rural areas, cities within boroughs may have foreclosures, but the surrounding rural borough might not. For large, populated boroughs, surplus funds from foreclosures are typically handled by the borough itself, whereas in rural areas, you may need to contact the specific city for information on surplus funds.
Alaska Statute 29.45.400
After a tax foreclosure, property owners in Alaska have the right to redeem their property within one year from the date of the foreclosure sale. During this period, the owner can reclaim the property by paying the full amount of the tax lien, including penalties, interest, and costs. This is a crucial opportunit
Alaska Statute 29.45.400
After a tax foreclosure, property owners in Alaska have the right to redeem their property within one year from the date of the foreclosure sale. During this period, the owner can reclaim the property by paying the full amount of the tax lien, including penalties, interest, and costs. This is a crucial opportunity to recover ownership before the property is permanently lost.
Claims and Distribution of Surplus Funds
Claims and Distribution of Surplus Funds
Claims and Distribution of Surplus Funds
Alaska Statute 29.45.480
If a property is sold at a tax foreclosure auction for more than the amount owed, the excess proceeds create surplus funds. The former property owner has SIX MONTHS from the date of the sale to claim these surplus funds. If the claim is not made within this period, the surplus funds may be forfeited to the municipality or state.
Notification Requirements
Claims and Distribution of Surplus Funds
Claims and Distribution of Surplus Funds
Alaska Statute 29.45.330
Municipalities are required to provide notice to property owners and lienholders about tax foreclosure proceedings and any potential surplus funds. This notice must be published for four consecutive weeks in a local newspaper or posted publicly if no newspaper is available. Additionally, a direct notice must be m
Alaska Statute 29.45.330
Municipalities are required to provide notice to property owners and lienholders about tax foreclosure proceedings and any potential surplus funds. This notice must be published for four consecutive weeks in a local newspaper or posted publicly if no newspaper is available. Additionally, a direct notice must be mailed to the last known address of the property owner, ensuring they are informed about the foreclosure process and any opportunities to reclaim their property or surplus funds.
Assignment of Surplus Funds
Possession During Redemption Period
Unclaimed Property Laws (State)
General Legal Principle
In some cases, property owners may choose to assign their right to claim surplus funds to another party, often in exchange for immediate cash. Although Alaska statutes do not specifically address this, the transaction must be documented correctly to be legally enforceable. Understanding general contract law is imp
General Legal Principle
In some cases, property owners may choose to assign their right to claim surplus funds to another party, often in exchange for immediate cash. Although Alaska statutes do not specifically address this, the transaction must be documented correctly to be legally enforceable. Understanding general contract law is important when engaging in such agreements.
Alaska Statute 09.25.010 - Contracts, Agreements, and Assignments
Alaska Statute 34.20.070 - Mortgages and Deeds of Trust
Uniform Commercial Code (UCC) - Article 9
Unclaimed Property Laws (State)
Possession During Redemption Period
Unclaimed Property Laws (State)
Alaska Statute 29.45.480
If surplus funds remain unclaimed for more than six months after the foreclosure sale, they may be transferred to the state under unclaimed property laws. Property owners or heirs should act promptly to avoid forfeiting their entitlement to these funds. Once transferred, the funds can still be claimed through the state's unclaimed property office.
Possession During Redemption Period
Possession During Redemption Period
Possession During Redemption Period
Alaska Statute 29.45.430
During the one-year redemption period, the former owner retains the right to possess the property. However, if the former owner commits waste (damages or devalues the property), the municipality may immediately terminate the owner's right to possession, potentially leading to permanent loss of the property without further notice.
Finder Fee Caps
Lien Judgments and Priority
Possession During Redemption Period
In Alaska, there is no specific state statute that caps the fees that can be charged for assisting with the recovery of tax surplus funds. However, general legal principles around fairness and contract law would apply, meaning that any fees agreed upon should be reasonable and clearly outlined in a contract.
When surplus funds are uncla
In Alaska, there is no specific state statute that caps the fees that can be charged for assisting with the recovery of tax surplus funds. However, general legal principles around fairness and contract law would apply, meaning that any fees agreed upon should be reasonable and clearly outlined in a contract.
When surplus funds are unclaimed and eventually transferred to the state under Alaska's unclaimed property laws, the state typically enforces a fee cap on the amount that third-party "heir finders" or locators can charge to help recover those funds. In Alaska, this fee is generally capped at 10% of the value of the property recovered.
Lien Judgments and Priority
Lien Judgments and Priority
Lien Judgments and Priority
In Alaska, when a creditor is owed money—whether from a bank loan, mechanic's lien, or unpaid services—they can file a lien against the debtor’s property by recording a copy of the judgment. This lien ensures that the creditor is paid from the proceeds when the property is eventually sold. Liens typically have priority over other debts,
In Alaska, when a creditor is owed money—whether from a bank loan, mechanic's lien, or unpaid services—they can file a lien against the debtor’s property by recording a copy of the judgment. This lien ensures that the creditor is paid from the proceeds when the property is eventually sold. Liens typically have priority over other debts, meaning they are often satisfied first in foreclosure situations, before any remaining funds are distributed to other creditors or the property owner.
Alaska Statute § 09.30.010
Tax Recap
Lien Judgments and Priority
Lien Judgments and Priority
Alaska Statute Title 29, Chapter 45
This section of the Alaska law is most important to review. If you want to understand this field of work, you will want to go over this in detail.
Alaska Mortgage Foreclosures
Surplus Funds List
Section 09.35.140 - Notice of Sale on Execution
Section 09.35.140 - Notice of Sale on Execution
In Alaska, there isn't a specific statute that directly addresses the overpayment of funds compared to the debt in the context of mortgage foreclosures. However, the general process for handling surplus funds is typically managed by the court or trustee overseeing the foreclosure. If the property is sold for more than the amount owed, th
In Alaska, there isn't a specific statute that directly addresses the overpayment of funds compared to the debt in the context of mortgage foreclosures. However, the general process for handling surplus funds is typically managed by the court or trustee overseeing the foreclosure. If the property is sold for more than the amount owed, the surplus funds are usually returned to the debtor or other claimants, following any applicable court procedures or orders. The absence of a specific statute means these procedures rely on general legal principles and court rules.
Section 09.35.140 - Notice of Sale on Execution
Section 09.35.140 - Notice of Sale on Execution
Section 09.35.140 - Notice of Sale on Execution
This section of Alaska law specifies how notice must be given before a foreclosure sale occurs. It requires that the notice of the sale be published in a newspaper of general circulation within the jurisdiction where the property is located. The notice must be published for a certain number of weeks before the sale date, ensuring that bo
This section of Alaska law specifies how notice must be given before a foreclosure sale occurs. It requires that the notice of the sale be published in a newspaper of general circulation within the jurisdiction where the property is located. The notice must be published for a certain number of weeks before the sale date, ensuring that both the property owner and any lienholders are informed about the pending sale.
Section 09.35.150 - Sale
Section 09.35.140 - Notice of Sale on Execution
Section 09.35.180 - Confirmation of Sale or Resale
This section outlines the procedure for the sale of foreclosed property in Alaska. It details how the sale must be conducted, including the requirement that the sale be public and that it must be conducted by the sheriff or other authorized official. The property is typically sold to the highest bidder. The section also emphasizes that t
This section outlines the procedure for the sale of foreclosed property in Alaska. It details how the sale must be conducted, including the requirement that the sale be public and that it must be conducted by the sheriff or other authorized official. The property is typically sold to the highest bidder. The section also emphasizes that the sale must follow the proper legal procedures to ensure that it is valid and enforceable. Any surplus funds generated from the sale, after satisfying the debt, may be claimed by the former property owner or other creditors.
Section 09.35.180 - Confirmation of Sale or Resale
Section 09.35.180 - Confirmation of Sale or Resale
Section 09.35.180 - Confirmation of Sale or Resale
This section addresses the court's responsibility in confirming the sale of foreclosed property. After the sale, the court must review and confirm that the sale was conducted in accordance with legal procedures. This confirmation process ensures that the sale is valid and that all parties' rights were respected. If the sale is not confirmed, the court may order a resale of the property.
Section 09.35.220 - Redemption
Section 09.35.180 - Confirmation of Sale or Resale
Section 09.35.220 - Redemption
This section outlines the process and rights related to redeeming a property after a foreclosure sale in Alaska. To redeem the property, the former owner or an interested party must pay the full amount owed, including the sale price, interest, and associated costs. This must be done within the redemption period to prevent the sale from b
This section outlines the process and rights related to redeeming a property after a foreclosure sale in Alaska. To redeem the property, the former owner or an interested party must pay the full amount owed, including the sale price, interest, and associated costs. This must be done within the redemption period to prevent the sale from becoming final. If the plaintiff is the bank, the full loan amount becomes due all at once. Failure to pay this amount results in the permanent transfer of the property to the purchaser.
Recap
Section 09.35.180 - Confirmation of Sale or Resale
Section 09.35.220 - Redemption
The primary section of the Alaska law that goes over the details of mortgage foreclosures is
Chapter 09.35 - EXECUTION.
going over this section will help with the understanding of what to expect during the mortgage foreclosure process.
Final Note
This is a general outline of what each section of the website will look like for the other states except a much deeper level understanding of the entire process is explained inside. Come join us in helping many homeowners who are in great need of a knowledgeable person to assist them.
Terms of Service: Details of the website could be wrong. Nothing contained within the website is to be interpreted as authoritative. You are responsible for your own understanding of the law and any references to the law are simply an opinion. Before making decisions based on the law, you should seek a licensed attorney within the state you wish to pursue business.
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