Mississippi at a glance
Checked against the sources cited, 2026-09-19
| Topic | What the law says, and where it says it |
|---|---|
| How foreclosure works here | Mississippi foreclosures are normally done out of court. A deed of trust or mortgage can give the trustee or the lender a power of sale, and the sale must be advertised in a county newspaper for three straight weeks before the sale date and posted at the courthouse, with the advertisement naming the original borrower. A sale that was not advertised that way is not valid. A lender can also ask a chancery court to order the property sold to satisfy the mortgage or deed of trust, in which case the court sets the terms. Miss. Code Ann. §89-1-55; §89-1-63(2); §11-5-93 Show the source textNo sale of lands under a deed of trust or mortgage, shall be valid unless such sale shall have been advertised as herein provided for, regardless of any contract to the contrary. |
| Tax sale excess proceeds | Mississippi sells the land itself at a county tax sale, and the owner or anyone interested in the land can redeem it by paying the chancery clerk within two years after the day of the sale. If the land sold for more than the taxes and costs, the tax collector reports that excess to the chancery clerk, it is paid into the county treasury, and the board of supervisors moves it into the county general fund. If the land is redeemed, the county keeps the excess. If it is not redeemed, the excess is paid to the owner on the owner's request, and the owner has two years from the end of the redemption period to ask for it. After that the county keeps it. Miss. Code Ann. §27-41-77; §27-45-3 Show the source textIf the owner of the property does not request payment of the excess within two (2) years from the expiration of the period of redemption, the excess shall be retained by the county. |
| Redemption after the sale | Mississippi's statute for stopping a foreclosure works only before the sale happens: the borrower or any interested party can stop a threatened sale by paying the installments that are actually past due, plus costs and fees, instead of the whole accelerated balance, and that payment puts the loan back on its original terms. The Code gives a two year redemption period for land sold at a tax sale, but sets no redemption period after a deed of trust or mortgage foreclosure sale. Miss. Code Ann. §89-1-59; §27-45-3 Show the source textthe debtor, or any interested party, may at any time before a sale be made under the terms and provisions of such instrument, or by virtue of such lien, stop a threatened sale |
| Rules for recovery companies | Mississippi's only fee-cap statute for paid recovery work covers property that has been reported to the State Treasurer under the Uniform Disposition of Unclaimed Property Act. For that property the Treasurer has to approve every contract in which one party agrees to give another information about reported property, and the fee in the contract cannot be more than ten percent of the value of the recoverable property or fifty dollars, whichever is greater. It is unlawful to contract for a fee to locate property the person knows has been reported, paid or delivered to the Treasurer until seven months after the holder handed it over. The section has no exception for attorneys, and an owner may argue at any time that the fee is excessive or unjust. The State Treasury's own page says claim finders may charge a maximum of ten percent and that anyone may file a claim without one. Miss. Code Ann. §89-12-25(1), (2) Show the source textThe agreed upon fee in such contracts shall not exceed ten percent (10%) of the value of the recoverable property or Fifty Dollars ($50.00), whichever is greater. |
How surplus funds arise in Mississippi
When a home in Mississippi is sold at a foreclosure sale or a tax sale for more than the debt and the costs of the sale, the money left over is surplus funds, also called excess proceeds or overage. It does not belong to the lender or to the buyer. Liens recorded behind the foreclosed debt are paid first, and what remains belongs to the former owner or to the owner's heirs. Read surplus funds explained for the general rules and liens and competing claims for the order of payment.
How a claim moves in Mississippi
We confirm the sale figures in the public record, identify which office in Mississippi is holding the money, and prepare and file the claim the way that office requires, advancing the costs. Because we bring the whole record with us, the claim does not stall on a missing document, a competing name or a missed date. See how to qualify for what we handle and what you provide. Notices about surplus are usually mailed to the last address on record, which is often the home that was sold, so do not wait for a letter. In Mississippi that program is the Unclaimed Property Division, Office of the State Treasurer (State Treasury of Mississippi).
If the owner has died
The right to the money belongs to the estate. Depending on the size of the estate, Mississippi law may allow a simplified procedure, or a probate court may need to appoint a personal representative. See estate and heir recovery and probate assistance.
Working with a recovery company in Mississippi
Mississippi regulates this kind of service. Mississippi's only fee-cap statute for paid recovery work covers property that has been reported to the State Treasurer under the Uniform Disposition of Unclaimed Property Act. For that property the Treasurer has to approve every contract in which one party agrees to give another information about reported property, and the fee in the contract cannot be more than ten percent of the value of the recoverable property or fifty dollars, whichever is greater. It is unlawful to contract for a fee to locate property the person knows has been reported, paid or delivered to the Treasurer until seven months after the holder handed it over. The section has no exception for attorneys, and an owner may argue at any time that the fee is excessive or unjust. The State Treasury's own page says claim finders may charge a maximum of ten percent and that anyone may file a claim without one. (Miss. Code Ann. §89-12-25(1), (2))
Any agreement you sign, with us or with anyone else, has to follow that rule.
No out-of-pocket expense. Our only payment is a completion fee taken from the surplus once it is recovered. Where your state requires a licensed attorney for a court or probate filing, a licensed attorney handles it, and you still pay nothing out of pocket. Before you sign with anyone, read what a surplus funds scam looks like.
Questions about surplus funds in Mississippi
Enough to prove who you are and how you held the property: identification, the deeds, any notice you received, and, if the owner has died, the estate paperwork. We do the rest for Mississippi, from locating the funds to filing the claim.
It depends on the kind of sale. After a court-supervised sale the court usually holds the money; after a trustee's or tax sale the trustee or the county usually does. Tell us the county and the sale date and a specialist will check.
No out-of-pocket expense. We advance the costs and are paid a completion fee from the surplus only after it is recovered. Where a court or probate filing requires a licensed attorney, a licensed attorney handles it.