Chemung County surplus funds list

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).

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.

More New York counties

• Oswego — $2.2M (100)
• Essex — $1.9M (70)
• Franklin — $1.0M (66)
• Broome — $774K (38)
• Albany — $637K (27)
• Allegany — request
• Bronx — request
• Cattaraugus — request
• Cayuga — request
• Chautauqua — request

All New York counties →