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Finance director reports decline in foreclosure caseload; county attorney outlines surplus-funds process
Summary
The county reported 66 properties in the foreclosure process, down from 97 when proceedings began Oct. 1; the county attorney described procedures for handling claims for surplus sale proceeds and said unclaimed funds revert to the county after three years to reduce the levy.
Laurie Skerritt, Tompkins County Director of Finance, told the Jan. 9 Budget, Capital, and Personnel Committee that the county’s foreclosure process currently includes 66 properties, down from 97 when the process began Oct. 1.
“We currently are at 66 properties in that process. To remind you, we started the process October 1st with 97,” Skerritt said, and added that 35 installment agreements were in place as of the meeting.
The county attorney described related procedural issues for surplus funds that result from property sales. He said motions from former owners claiming surplus funds have been arriving and that the office submitted a proposed order to the court to help standardize disbursement. The county attorney cautioned that money subject to an undisputed claim should not be recognized as county revenue except for county fees. He said claimants have a three-year statutory window to file for return of surplus funds; if no claim is filed within three years, the funds revert to the county and are used to reduce the levy.
“Is there a limitation statute on how long they have to submit a motion? 3 years. They have 3 years,” a legislator asked; the county attorney confirmed the three-year period and that unreclaimed funds revert to the county.
Skerritt told the committee the county had reduced fees recognized in the 2025 budget in response to a court ruling and said staff will continue refining the recognition and disbursement process. The committee did not take any new formal action on foreclosures at the Jan. 9 meeting.
