New York surplus funds list
Unclaimed overages from tax deed and foreclosure sales.
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New York surplus funds rules
- Sales that create surplus
- Judicial mortgage foreclosure sale by court-appointed referee (RPAPL Art. 13; In rem / tax foreclosure sale by county or city enforcing officer (RPTL Art. 11 Title 6, RPTL 1194-1197, added by L.2024 c.55 Part BB); No non-judicial trustee sales (NY is judicial-only)
- Who holds the money
- Court funds: county treasurer (in NYC, Commissioner of Finance, Court Assets unit) holds mortgage-foreclosure surplus paid into court. Tax foreclosure: enforcing officer must determine surplus within 45 days of sale, report to court, and pay surplus into court (RPTL 1196).
- Unclaimed funds go to
- Mortgage surplus in county treasurer hands: deemed abandoned after 3 years and paid to State Comptroller under Abandoned Property Law 600 (statute text says three years; confirm current amendment). Tax-foreclosure surplus unclaimed at end of RPTL 1197 proceeding is deemed abandoned and paid to the TAX DISTRICT (not the Comptroller), which must use it to reduce its levy; for residential property the proceeding stays open at least 3 years from confirmation of the report of sale for a former homeowner.
- How owners claim
- Mortgage foreclosure: motion/notice of claim in the surplus money proceeding under RPAPL 1361 in the Supreme Court action (often referred to a referee). Tax foreclosure: file a claim with the court having jurisdiction under RPTL 1197 (handled like an RPAPL Art. 13 surplus proceeding); enforcing officer must notify former owner within 10 days of filing its surplus report. After escheat to Comptroller: claim through OSC unclaimed funds. — deadline: RPAPL: none fixed, but money becomes abandoned property after 3 yrs with treasurer (APL 600). RPTL 1197: no fixed deadline; residential former homeowner protected for at least 3 years after confirmation of report of sale.
- Agent / finder fee cap
- 15% of value of recoverable property — but only for property held by the State Comptroller (APL 1416(4)). No statutory fee cap found for surplus still in court/county treasurer or in RPTL 1197 proceedings (courts review claims and may scrutinize assignments).
- Waiting period
- None in APL 1416 (no post-remittance waiting period in fetched text). None found for court-held surplus.
- Registration
- No registration requirement in APL 1416; agreement must be in Comptroller-prescribed form, in writing, signed by owner, notarized.
- Getting the list
- Comptroller online unclaimed funds search (osc.ny.gov) for escheated court funds; county treasurer/NYC Dept. of Finance Court Assets for funds still on deposit (records request / FOIL); county enforcing officers' RPTL 1196 surplus reports filed in court; some counties publish surplus notices (e.g., Chemung County surplus proceeding page). No single statewide list.
Law: N.Y. Abandoned Property Law 1416 (finders, comptroller-held funds); APL 600 (court funds); RPAPL 1361; RPTL 1196-1197 · confirm details with the county; rules change.
Questions
Is there a free New York surplus funds list?
Counties publish or provide lists on request; Surplus Funds HQ links to the official sources and is adding New York lists.
Who gets surplus funds in New York?
The former owner first (and lienholders in order of priority). The money is held by: Court funds: county treasurer (in NYC, Commissioner of Finance, Court Assets unit) holds mortgage-foreclosure surplus paid into court. Tax foreclosure: enforcing officer must determine surplus within 45 days of sale, report to court, and pay surplus into court (RPTL 1196)..
What is the recovery agent fee cap in New York?
15% of value of recoverable property — but only for property held by the State Comptroller (APL 1416(4)). No statutory fee cap found for surplus still in court/county treasurer or in RPTL 1197 proceedings (courts review claims and may scrutinize assignments).