Mortgage foreclosure surplus

14 M.R.S. § 6324 directly governs proceeds of a judicial mortgage foreclosure sale: after expenses, distribution follows the judgment and any surplus goes to the mortgagor. Chapter 713 supplies the related foreclosure procedure. If the mortgagor did not appear, § 6324 directs the court clerk to hold surplus in escrow for six months, then transfer any unclaimed amount to the Treasurer of State under the unclaimed-property framework. Six months is a transfer point, not a forfeiture of ownership; the property-redemption period is separate.

Tax sale surplus

36 M.R.S. § 943-C requires a municipality selling tax-acquired land to pay the former owner proceeds above taxes, interest, authorized expenses and charges. It also addresses retained property and property in unorganized territory. If the municipality cannot locate the former owner, § 943-C(9)–(10) requires published notice; a claim not made within 30 days after the final published notice is transferred to the Unclaimed Property Fund. The 18-month tax-lien mortgage redemption period under §§ 942–943 is separate.

Unclaimed funds

Maine Revised Unclaimed Property Act, 33 M.R.S. ch. 45; § 2153 governs an owner claim to the State Treasurer. Section 2153 sets no fixed initial owner-claim deadline for property held by the Treasurer. Special mortgage and tax surplus transfer periods do not themselves extinguish the later state claim.

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.

• Tax sale surplus statute
• Mortgage foreclosure statute