Notice of Intention to Claim Interest in Foreclosure Sales Proceeds
Per MCL 211.78t(2), following the foreclosure of a parcel, a former interest holder "Claimant" has until July 1 to file a notice of intention to claim remaining proceeds form with the Van Buren County Treasurer. This notice of Claim must be notarized and delivered to the Van Buren County Treasurer by certified mail or personal service.
Following the foreclosure auction, the Van Buren County Treasurer will mail certified notices to each claimant no later than January 31. This notice will include information about other Claimants who submitted a Notice of Claim with respect to each property, as well as information about any state, federal, or local unit liens associated with each property at the time of foreclosure.
Between February 1 and May 15 in the year following the sale, Claimants may file a motion in the circuit court seeking to recover their share of any remaining proceeds. (MCL 211.78t(5),(7))
The circuit court will hold a hearing on each Claimants motion and will allocate the available remaining proceeds among the Claimants and issue an order disbursing those proceeds to the applicable parties. (MCL 211.78t(9))
Within 21 days of the court's order, the Van Buren County Treasurer must pay the amounts ordered by the court to the applicable Claimants. (MCL 211.78t(10))