Surplus funds in Mississippi: 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.
Non-judicial trustee sale (89-1-55). No surplus-distribution statute; trustee applies proceeds to debt/juniors then grantor (common law); disputes → chancery interpleader.
89-1-55 is sale procedure only; 89-1-59 is pre-sale reinstatement, not surplus. No pre-escheat fee cap or assignment bar found. Secondary '1-year' and '§89-1-59 surplus' cites are wrong.
Tax sale overages
Yes — we recover this here.
Tax collector pays overbid to county treasury; after 2-yr redemption expires without redemption, owner requests excess; clerk certifies; supervisors issue warrant (27-41-77).
Deadline: Request within 2 years after redemption expires (27-41-77). Redemption is 2 years from sale (27-45-3). If redeemed, county keeps the excess.
Already returned surplus pre-Tyler; no 2024–26 rewrite found. HB 488 (2026) to drop the 2-yr window is not enacted. No fee cap found. Statute speaks of an 'owner' request.
Courtroom requirement: Standard claims here are administrative — no attorney legally required for a routine filing.
If nobody claims it: Tax excess unclaimed 2 yrs after redemption expires is retained by the county, not state UP (27-41-77). Trustee-held mortgage: no clock found. UP: 7-mo wait + 10%/$50 (89-12-25).
Cars, boats & RVs in Mississippi: 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://codes.findlaw.com/ms/title-27-taxation-and-finance/ms-code-sect-27-41-77/ · https://law.justia.com/codes/mississippi/title-27/chapter-45/section-27-45-3/
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