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Surplus funds contracts 2025

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The Finder Agreement outlines the terms between a company (finder) and an individual (owner) for locating and recovering unclaimed funds. The finder is entitled to 10% of any recovered funds, payable only after the owner receives their funds. If no funds are recovered, the finder receives no payment.

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How do you calculate surplus funds?

Surplus funds are calculated by subtracting the outstanding loan balance and foreclosure costs (such as legal fees and auction expenses) from the sale proceeds. If there are any junior liens like a second mortgage or unpaid property taxes those are paid next.

What is surplus funding?

Surplus funds, also referred to as overage or excess funds, are the funds remaining after a mortgage is paid through the final judgment of a foreclosure auction. The trustee appointed in the foreclosure auction is responsible for disbursing the funds without charging additional fees.

What is a surplus money example?

An example of a budget surplus could be when Timothy pays all of his bills and obligations for the month and still has money left over. With this money, he can choose to save, invest, or purchase something extra that he might enjoy, such as a new TV.

What does surplus mean in accounting?

A surplus defines the sum of an asset or resource over the portion that is actively used. It may refer to a host of different things, such as sales, income, resources, and products. It defines the items of inventories that remain unused, unbought, or on store shelves.

What is an example of a surplus fund?

Examples of Surplus funds in a sentence 9.4(1) Location. Surplus funds generated by the division shall be transferred to the authoritys housing assistance fund after providing for adequate reserves and for the operating expenses of the division.