Mortgage foreclosure surplus

Miss. Code Ann. § 89-1-55 regulates advertisement of power-of-sale foreclosures, while the deed of trust and Mississippi priority case law govern application of proceeds. Junior liens attach to foreclosure proceeds by priority; any residue belongs to the mortgagor. Section 89-1-55 does not set a surplus-claim deadline. Seek the trustee’s accounting and payment promptly; any challenge or civil claim is subject to its own limitations rules. Mississippi’s mortgage sale generally ends the owner’s equity of redemption, a separate issue.

Tax sale surplus

Miss. Code Ann. § 27-41-77 is the direct tax-sale excess-bid statute. The collector reports the excess to the chancery clerk and pays it into the county treasury; the owner may receive it if the land is not redeemed. Under § 27-41-77, the owner must request the excess within two years after the tax-sale redemption period expires; otherwise the county retains it. The separate property redemption period is generally two years from sale under § 27-45-3.

Unclaimed funds

Mississippi Uniform Disposition of Unclaimed Property Act, Miss. Code Ann. §§ 89-12-1 et seq.; § 89-12-39 governs claims to the State Treasurer. Section 89-12-39 states no fixed initial claim deadline. The 15-year limit mentioned there concerns accrual of interest, not the right to claim principal; judicial review after an adverse decision follows § 89-12-41.

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