Michigan surplus funds list

Michigan surplus funds rules

Sales that create surplus

Tax foreclosure auction by county treasurer/State (GPTA, MCL 211.78m); Mortgage foreclosure by advertisement (non-judicial sheriff sale, MCL 600.3252); Judicial mortgage foreclosure (less common); HOA/condo lien foreclosure by advertisement (MCL 559.208)

Who holds the money

Tax: the foreclosing governmental unit (county treasurer or State/DNR) holds remaining proceeds. Mortgage: the officer/person conducting the sale (sheriff/deputy) holds surplus; if a junior lienholder files a sworn claim, surplus is paid to the circuit court clerk and the court orders distribution (MCL 600.3252).

Unclaimed funds go to

Tax: MCL 211.78t is the exclusive mechanism; an owner who misses the July 1 notice / Feb 1-May 15 motion window loses the claim and proceeds remain with the foreclosing unit (exact disposition of unclaimed funds in statute text). Mortgage surplus unclaimed with sheriff/clerk -> Michigan Unclaimed Property (Treasury) under the Uniform Unclaimed Property Act. verify

How owners claim

Tax: (1) file notarized Treasury Form 5743 'Notice of Intention to Claim Interest in Foreclosure Sales Proceeds' with the foreclosing governmental unit by personal service or certified mail; (2) then file a motion in the circuit court that entered the foreclosure judgment (MCL 211.78t(4)). Mortgage: written demand to the sheriff/officer; if contested, motion in circuit court. — deadline: Tax: Form 5743 by the July 1 immediately following the effective date of foreclosure (i.e., ~3 months after the March 31 foreclosure); motion filed Feb 1 - May 15 of the year following the sale/transfer. Pre-2020 sales: separate subsection (6) route (March 31 notice / Oct 1 motion) for claims arising under Rafaeli. Mortgage: no fixed statutory deadline in 600.3252.

Agent / finder fee cap

No percentage fee cap found in MCL 211.78t text (FindLaw version current to 1/1/2025). whether any later amendment adds one. verify

Waiting period

None found in statute.

Registration

None specific to surplus finders found.

Getting the list

Foreclosing units publish/maintain sale results; Wayne County Treasurer remaining-proceeds page. Lists of claimants/available proceeds often obtained via FOIA to county treasurer. Michigan Treasury forms page for Form 5743 (michigan.gov/taxes, blocked to fetch - URL). verify

Law: MCL 211.78t(11); MCL 211.78m; MCL 600.3252 · confirm details with the county; rules change.