Illinois surplus funds recovery

Public Act 104-0553, effective July 10, 2026, created the prospective judicial tax-deed auction surplus rule at 35 ILCS 200/22-42 and a separate compensatory surplus equity fund at 35 ILCS 200/21-302 for specified earlier 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.

Public Act 104-0553, effective July 10, 2026, created the prospective judicial tax-deed auction surplus rule at 35 ILCS 200/22-42 and a separate compensatory surplus equity fund at 35 ILCS 200/21-302 for specified earlier 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 window: generally July 10, 2028 for deeds recorded in the two years before the Act, or two years after recording for covered outstanding certificates.

Section 21-302 has a separate two-year window: generally July 10, 2028 for deeds recorded in the two years before the Act, or two years after recording for covered outstanding certificates. The deed's applicable track determines the deadline.

735 ILCS 5/15-1512 controls judicial mortgage-sale distribution, with surplus held by the selling officer until court order and notice to parties, and possible eventual forfeiture to the State. Section 15-1507 governs the sale and its confirmation, not surplus distribution.

735 ILCS 5/15-1512 controls judicial mortgage-sale distribution, with surplus held by the selling officer until court order and notice to parties, and possible eventual forfeiture to the State. Section 15-1507 governs the sale and its confirmation, not surplus distribution. Section 15-1512 sets no single fixed owner filing period; seek a distribution order in the foreclosure case while funds are held.

Section 15-1512 sets no single fixed owner filing period; seek a distribution order in the foreclosure case while funds are held. Property redemption under § 15-1603 is a separate right.

765 ILCS 1026/15-101 et seq. govern unclaimed property, with owner claims administered by the State Treasurer under §§ 15-903 and 15-904. Section 15-903 sets no fixed general initial owner filing deadline.

765 ILCS 1026/15-101 et seq. govern unclaimed property, with owner claims administered by the State Treasurer under §§ 15-903 and 15-904. Section 15-903 sets no fixed general initial owner filing deadline. Section 15-904 gives the Treasurer 90 days after a completed claim to allow or deny it.

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.

The deed's applicable track determines the deadline. Property redemption under § 15-1603 is a separate right. Special tax-deed surplus periods remain controlling before transfer.