Surplus funds in Maine: the rules, straight.
We recover foreclosure surplus, tax sale overages, and vehicle/boat/RV repossession surplus here.
Foreclosure / mortgage surplus
Yes — we recover this here.
Mortgagee pays surplus to mortgagor (14 M.R.S. 6324). If mortgagor did not appear, clerk escrows 6 months. Contest accounting by motion within 30 days of report.
Deadline: 30 days to contest report of sale. Unappeared-owner clerk escrow is only 6 months.
Judicial foreclosure. Report of sale due earlier of 90 days after sale or 45 days after deed. No pre-escheat fee cap or assignment bar found.
Tax sale overages
Yes — we recover this here.
Post-Tyler: municipality lists tax-acquired property with a licensed broker and pays excess to the former owner (36 M.R.S. 943-C). Not a cash tax-auction overage model.
Deadline: If owner not found: publish 3 weeks; claim within 30 days of last notice or transfer to Unclaimed Property Fund (943-C(9)-(10)).
PL 2023 c.358 (emergency) and c.640 (eff. 8/9/2024) after Tyler. If town retains property, pay appraised equity. Redemption expires before sale (36 M.R.S. 942-943). No fee cap found.
Courtroom requirement: Process here varies enough that we route files through counsel review — included in the same contingency deal.
If nobody claims it: If mortgagor never appeared: clerk holds 6 mo then Treasurer/General Fund, later RUUPA (14 M.R.S. 6324). Tax excess unfound: 30 days after last notice then Unclaimed Property Fund (36 M.R.S. 943-C(10)).
Cars, boats & RVs in Maine: Vehicle/boat/RV repo surplus: UCC § 9-615(d) obliges the LENDER to return the surplus; § 9-616 explanation on request; § 9-625(c)(2) statutory damages for noncompliance. Demand-letter work against the secured party — no county, no state surplus-fee cap in this table.
This page summarizes public statutes for general information — it is not legal advice, rules change, and unverified items are confirmed by our desk (and counsel where needed) before any agreement is papered. Primary source: https://legislature.maine.gov/statutes/14/title14sec6324.html · https://legislature.maine.gov/statutes/36/title36sec943-C.html
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