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Alex Esquire
Alex Esquire, Attorney
Category: Business Law
Satisfied Customers: 16622
Experience:  Experienced Licensed Attorney
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I will be getting a surplus fund from the auction sale of my

Customer Question

I will be getting a surplus fund from the auction sale of my owner occupied property due to foreclosure trustee sale, if I claim that, will I be taxed on the entire sale of the property or only from my surplus funds?
Submitted: 2 years ago.
Category: Business Law
Expert:  Alex Esquire replied 2 years ago.
Hello. My name is***** will be happy to answer your question.
I am sorry to hear about this unfortunate situation.
Generally only surplus proceeds would be subject to any taxes and not the entire amount of the sale price of the property at the auction.
I wish you the best of luck!
Customer: replied 2 years ago.
I would like to file a lawsuit against the bank that foreclosed and sold my owner occupied property, while I am waiting for the court hearing of eviction/ unlawful detainer against me, will getting the surplus fund jeopardize my lawsuit against the bank?
Expert:  Alex Esquire replied 2 years ago.
This is an entirely new question and has to be posted in a new post according to terms of service.
Thank you.