Surplus funds in New York: 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.
Surplus money proceeding by motion in the foreclosure action (RPAPL § 1361); funds with the county treasurer/commissioner.
No pre-escheat statutory cap; the court reviews reasonableness at disbursement. Our home turf — our New York playbook.
Tax sale overages
Yes — we recover this here.
2024 reform (RPTL §§ 1195–97): 45-day surplus calculation; residential owners get a ≥3-year claim window.
Post-Tyler stream — new inventory statewide.
Courtroom requirement: Claims here move by court motion. Licensed local attorneys on our bench handle the courtroom work inside the same contingency deal — you never pay hourly legal bills.
If nobody claims it: Court funds → NY Comptroller (still claimable); Abandoned Property Law § 1416 caps finder fees at 15% at that stage.
Cars, boats & RVs in New York: 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://www.nysenate.gov/legislation/laws/ABP/1416 · https://newyork.public.law/laws/n.y._abandoned_property_law_section_1416
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