Illinois Surplus Funds Laws
How mortgage foreclosure surplus, tax sale surplus and unclaimed funds work in Illinois.
Mortgage foreclosure surplus
735 ILCS 5/15-1512 controls distribution after a judicial mortgage foreclosure sale. Surplus is held by the selling officer until court order, with notice to parties, and may eventually be forfeited to the State. Section 15-1507 governs conduct and confirmation of sale. Section 15-1512 does not state a single fixed owner-claim filing period. Seek a distribution order in the foreclosure case while funds are held. The foreclosure redemption period under § 15-1603 is a separate right.
Tax sale surplus
Public Act 104-0553 (effective July 10, 2026) created the prospective judicial tax-deed auction and surplus rule at 35 ILCS 200/22-42 and a separate compensatory surplus equity fund at 35 ILCS 200/21-302 for specified earlier tax deeds. For § 22-42 auction proceeds, the treasurer gives notice and the former owner has three years from the date on that notice to claim. Section 21-302 has a separate two-year claim window: generally July 10, 2028 for deeds recorded in the two years before the Act, or two years after recording for covered outstanding certificates. Identify the applicable track.
Unclaimed funds
Illinois Revised Uniform Unclaimed Property Act, 765 ILCS 1026/15-101 et seq.; owner claims are governed by §§ 15-903 and 15-904. The State Treasurer administers claims. Section 15-903 has no fixed general initial filing deadline for an owner claim. Section 15-904 gives the Treasurer 90 days after a completed claim to allow or deny it. Special tax-deed surplus periods remain controlling before transfer.
Statute text
Links to the statutes referenced in our research. These may be third-party copies of older code editions, so check the current official code before relying on them.


