In Oregon, if your property was foreclosed on for unpaid taxes and sold for more than you owed, you can recover the surplus equity. Under House Bill 2089, these surplus proceeds are classified as unclaimed property. Counties transfer these funds to the Oregon Unclaimed Property Program where you can file a claim to get your money back.
How to Recover Surplus Funds
1. Search the State Database
- Go to the official Oregon Unclaimed Property Claim Search Page.
- Enter your first and last name, or the name of your business, to see if the state is holding your funds.
- Note: It typically takes a few months for the county to process the sale and transfer the surplus funds to the Treasury. If your recent foreclosure isn’t listed yet, you can contact the Unclaimed Property program at [email protected] or call or text 1-855-560-4208 for assistance.
2. Submit Your Claim
- Once you locate your property or funds in the database, you can file a claim electronically through the website.
- You will need to upload specific documentation to prove your identity and ownership (e.g., a title deed, proof of your mailing address, etc.).
3. Eligibility Rules
- The new legislation applies to properties foreclosed on or after May 25, 2023. Property owners generally cannot recover foreclosure surpluses for sales that occurred prior to this date.
- Surplus funds belong to the rightful owner (or their heirs) forever and will never revert to state ownership.
- A person other than the original owner (such as a valid lienholder) may also file a claim.
4. County-Specific Procedures
- While the state handles the funds, local counties are required to send notifications to former owners.
- Some counties, such as Lane County and Yamhill County, provide localized surplus proceeds trackers or claim forms that you can review or submit to county property management departments.