Find Unclaimed Money in Iosco County
Iosco County residents may have unclaimed money held by the State of Michigan, including dormant bank accounts, forgotten insurance proceeds, uncashed payroll checks, and tax foreclosure surplus funds from the 23rd Circuit Court. The Michigan Department of Treasury holds over $675 million in unclaimed property statewide, and searching is free. If you owned property in Iosco County that was sold at a tax foreclosure auction, surplus proceeds from the sale may still be available to claim through the circuit court process.
Iosco County Overview
Michigan State Unclaimed Property Search
The Michigan Department of Treasury holds unclaimed funds from banks, credit unions, insurance companies, utilities, and other businesses that lost contact with account holders. The statewide total is over $675 million. The state returns these funds at no charge, but you have to search to find out if anything is in your name.
Go to unclaimedproperty.michigan.gov to run a free search. Enter your name and the site shows any property held in your name. If you find a match, file the claim online. Most claims are paid within 90 days. Questions? Call (517) 636-5320 or email TreasUPD@michigan.gov.
The Michigan Unclaimed Property search portal is shown below. It is the first and most important tool for any Iosco County resident looking for lost funds.
Start your free search at unclaimedproperty.michigan.gov, the official Michigan state portal.
Search under every name you've used and check for deceased family members. Heirs can file claims for deceased relatives in many cases.
What the State May Hold
Old checking or savings accounts are the most common type of unclaimed property. But the list goes beyond bank accounts. Insurance policy payouts sit unclaimed when beneficiaries can't be found. Stock dividends, safe deposit box contents, court-ordered refunds, and even overpayments on utility bills all end up with the state over time. None of this reflects wrongdoing. It's simply what happens when accounts go inactive and businesses can't locate the owner.
Iosco County Treasurer
The Iosco County Treasurer collects property taxes and oversees delinquent tax accounts. Under Michigan law, unpaid property taxes are transferred to the county treasurer on March 1 of the first year they go delinquent. The treasurer then manages collection efforts and, if taxes still aren't paid over a three-year period, initiates foreclosure through the circuit court.
Iosco County is part of the 23rd Circuit Court, which serves Iosco, Alcona, Arenac, and Oscoda counties together. Surplus fund claims from tax foreclosure auctions in Iosco County are filed in this court.
| County Seat | Tawas City, MI |
|---|---|
| Judicial Circuit | 23rd Circuit Court (Iosco, Alcona, Arenac, Oscoda) |
| Foreclosing Unit | Iosco County Treasurer |
Delinquent Tax Process
Property owners who fall behind on taxes have a window at each stage to pay and stop the process. Once the circuit court enters a foreclosure judgment in the third year, the right to redeem the property ends. The property goes to auction. If the auction price exceeds what was owed, that surplus belongs to the former owner under Michigan law.
Tax Foreclosure Surplus Funds in Iosco County
When a tax-foreclosed property sells at auction for more than the debt owed, the leftover amount is called a surplus. Michigan Compiled Laws section 211.78t gives the former property owner the right to claim that surplus. Many people don't know this right exists, and missing the filing deadlines ends the claim permanently.
Claim Forms and Deadlines
Two forms govern surplus fund claims in Michigan:
- Form 5743 - Notice of intention to claim surplus. File by July 1 of the foreclosure year.
- Form 5744 - Petition to claim surplus proceeds. File by January 31 after the sale.
If those windows have passed, form CC540 is a court motion that can be filed from February 1 through May 15. This goes to the 23rd Circuit Court. A judge reviews the claim and, if it's valid, orders the county to pay. This is not the preferred route, but it keeps the door open for people who missed the earlier deadlines.
Rafaeli v. Oakland County (2020)
The Michigan Supreme Court's 2020 ruling in Rafaeli v. Oakland County established that counties cannot keep surplus proceeds from tax foreclosure sales. The former owner is entitled to any amount above what was owed. This decision applies statewide, including Iosco County. If a property you owned was foreclosed and auctioned in recent years, there may be surplus funds in your name.
Legal Services of Eastern Michigan
Legal Services of Eastern Michigan provides free civil legal assistance to low-income residents in the region, including Iosco County. They can help with surplus fund claims, foreclosure defense, and related matters. If you cannot afford a private attorney, contact them to ask about eligibility and services.
Michigan Tax Foreclosure Timeline
Michigan uses a three-year process. Here's what happens at each stage:
- Year 1: Taxes go unpaid. On March 1, the county treasurer takes over collection. A lien attaches to the property and interest begins. The owner can still pay to stop the process.
- Year 2: The property is listed as delinquent. Notices go to the owner and lienholders. Foreclosure proceedings formally start. The owner still has redemption rights.
- Year 3: If taxes are still unpaid, the 23rd Circuit Court enters a judgment of foreclosure. The property is auctioned, usually in late summer or early fall.
After the auction, the proceeds pay off the tax debt, costs, and fees. Any remainder is the surplus. The former owner has a right to it under MCL 211.78t, but only if they file within the required windows. The Iosco County Treasurer acts as the Foreclosing Governmental Unit (FGU) and manages the entire process locally.
Legal Aid Resources for Iosco County Residents
Help is available for residents who need guidance on surplus fund claims, tax foreclosure, or unclaimed property searches.
Michigan Legal Help
Visit michiganlegalhelp.org for free guides on surplus claims, the foreclosure process, and unclaimed property. The site explains which forms to use and when to file them. It's a good first stop before calling an attorney, especially if your situation is straightforward.
Legal Services of Eastern Michigan
Legal Services of Eastern Michigan serves low-income residents in the eastern part of the state, including Iosco County. They offer free assistance with foreclosure defense and related civil matters. Check their website or call to ask about eligibility and what they can help with in your specific situation.
State Bar of Michigan Lawyer Referral Service
Call (800) 968-0738 or visit lrs.michbar.org to be connected with a licensed attorney. The referral service covers property law, tax issues, probate, and other relevant areas. First consultations are typically low-cost.
Michigan Homeowner Assistance Fund
If you're behind on property taxes and worried about foreclosure, check the Michigan Homeowner Assistance Fund at michigan.gov/mihaf. This program can pay off delinquent taxes and stop the foreclosure process. It's far better to stop the foreclosure than to deal with surplus claims afterward.
The deadlines for surplus claims are firm. July 1 and January 31 are the key dates. The court motion window closes May 15. If you missed one of these, check whether another option still applies before giving up.
Cities in Iosco County
Tawas City is the county seat. Other communities in Iosco County include East Tawas, Oscoda, and Au Sable. None of these cities meet the population threshold for a dedicated city page on this site. Residents of any city or township in Iosco County can use the state portal and county resources on this page to search for unclaimed funds and file surplus claims through the 23rd Circuit Court.