53929. Any party of interest in the property at the time of sale for taxes or special assessments may file with the agency conducting the sale a claim for excess proceeds any time prior to the expiration of one year following the execution of the deed to the purchaser.The claims shall contain any information and proof deemed necessary by the governing body of the agency conducting the sale to establish the claimant’s rights to all or any portion of the excess proceeds.No sooner than one year following the execution of the deed to the purchaser, and if the excess proceeds have been claimed by any party of interest as provided herein, such excess proceeds shall be distributed on order of the governing body of the agency conducting the sale to the parties of interest in the order of priority set forth in subdivisions (a) and (b). For the purposes of this article, parties of interest and their order of priority are:(a) First, lienholders of record prior to the property being sold for taxes or assessments, in the order of their priority, as to liens that were extinguished by such sale; and(b) Then, any person who would be established with title to all or any portion of the property by

s or assessments, in the order of their priority, as to liens that were extinguished by such sale; and(b) Then, any person who would be established with title to all or any portion of the property by redemption of such property immediately prior to the sale. In the event more than one party of interest, as defined in subdivisions (a) and (b) of this section, file claims for the excess proceeds as provided herein, the governing body of the agency conducting the sale shall give all claimants opportunity for a hearing to establish the priority and extent of their claim following a period of at least 30 days after written notice has been given to each claimant. Any action or proceeding to review the decision of the governing body shall be commenced within 90 days after the date of such decision of the governing body.(Added by Stats. 1977, Ch. 648.)