Claiming surplus funds in Lonoke County
Surplus from sales in Lonoke County is held by the county office that conducted the sale, typically the clerk, auditor, or treasurer. We confirm the holding office before anything is filed.
Ark. Code Ann. § 18-50-109 governs statutory foreclosure proceeds: expenses, debt, later recorded liens by priority, then surplus to the grantor or entitled successor. Title 18, Chapter 50 supplies the nonjudicial procedure, and § 18-50-109 sets no fixed grantor surplus-claim deadline. A statutory foreclosure creates no implied property-redemption right under § 18-50-116. After judicial foreclosure, § 18-49-106 allows one year from sale to redeem, but that property right may be waived in the mortgage or deed of trust.