Maine surplus funds list
Unclaimed overages from tax deed and foreclosure sales.
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Maine surplus funds rules
- Sales that create surplus
- Tax lien mortgage foreclosure (36 MRSA 942-943; Judicial mortgage foreclosure public sale (14 MRSA 6321-6324); Condo lien foreclosure (33 MRSA 1603-116) using mortgage foreclosure procedure (cross-reference)
- Who holds the money
- Tax: municipality (or State Tax Assessor for unorganized territory) holds and pays excess sale proceeds after listing with an independent broker and selling within 12 months (943-C(3)), or pays appraised-value excess if it retains (943-C(7)). Mortgage: mortgagee disburses per judgment; if mortgagor has not appeared, surplus paid to clerk of courts and held in escrow 6 months (14 MRSA 6324).
- Unclaimed funds go to
- Tax: if former owner (located only by publication) fails to claim within 30 days of the final of 3 weekly published notices, municipality transfers proceeds to the Unclaimed Property Fund (33 MRSA 2141) (943-C(10)). Mortgage: unclaimed after 6 months with the clerk, paid to Treasurer of State (General Fund) until unclaimed under the Unclaimed Property Act (14 MRSA 6324).
- How owners claim
- Tax: municipality must send notice of sale process at least 90 days before listing, and notice of intent to pay excess at least 30 days before disbursement (certified + first-class mail); former owner (or heirs/devisees/PR) receives payment and may request a written itemized accounting; acceptance waives a 946-B challenge. Mortgage: surplus paid in the foreclosure proceeding; contest the report of sale by motion within 30 days of receipt. — deadline: Tax (unlocated owner): 30 days after final published notice, then claim from State Treasurer unclaimed property. Mortgage: 6 months in clerk escrow.
- Agent / finder fee cap
- No surplus-specific cap. For funds held by the State Treasurer: agreements made >24 but <36 months after delivery capped at 15% (33 MRSA 2201(6)); unconscionable fees reducible by court (2201(4)).
- Waiting period
- Locator agreement void if entered between presumption of abandonment and 24 months after property is delivered to the administrator (33 MRSA 2201(1)); attorney filing a claim for identified property excepted.
- Registration
- None found
- Getting the list
- No statewide list. Freedom of Access Act (1 MRSA 408-A) request to the municipality for tax-acquired property sales and 943-C notices; 943-C(11) notices of payment are recorded at the county registry of deeds; 943-C(9) newspaper notices name owner and amount; Maine State Treasurer unclaimed property search (maine.gov/unclaimedproperty) after transfer.
Questions
Is there a free Maine surplus funds list?
Counties publish or provide lists on request; Surplus Funds HQ links to the official sources and is adding Maine lists.
Who gets surplus funds in Maine?
The former owner first (and lienholders in order of priority). The money is held by: Tax: municipality (or State Tax Assessor for unorganized territory) holds and pays excess sale proceeds after listing with an independent broker and selling within 12 months (943-C(3)), or pays appraised-value excess if it retains (943-C(7)). Mortgage: mortgagee disburses per judgment.
What is the recovery agent fee cap in Maine?
No surplus-specific cap. For funds held by the State Treasurer: agreements made >24 but <36 months after delivery capped at 15% (33 MRSA 2201(6)); unconscionable fees reducible by court (2201(4)).