When it comes to money owed to Indiana residents, it’s important to understand the difference between unclaimed property and surplus funds. While both can result in a rightful payout, they originate from different processes and are handled by separate government entities.
Surplus funds are the proceeds left over after a property is sold in a foreclosure auction. If the winning bid exceeds the debts owed (mortgage, taxes, liens), the extra money is called a surplus. These funds belong to the former homeowner or their legal heirs.
Unclaimed property refers to financial assets held by the state when the rightful owner cannot be located. This could include uncashed checks, dormant bank accounts, utility deposits, insurance proceeds — and even unclaimed surplus funds that were never claimed through the court system.
If surplus funds go unclaimed for a period of time, they may be turned over to the Indiana Unclaimed Property Division. At this point, they are no longer accessible through the county — you must go through the state.
At National Equity Agency, we identify both foreclosure-related surplus funds and surplus funds already turned over to the state. We’ll let you know where your funds are and how to claim them.
Start a Free Surplus Funds Search →