72.14 Surplus

(1)   A mortgagee who is paid in full out of the proceeds of sale under an order for foreclosure, sale, and possession must, if there is a balance remaining, notify subsequent encumbrancers or other parties of the amount of the surplus fund.

(2)   A subsequent encumbrancer or other party must be notified of the surplus funds in either of the following ways, unless there is a designated address for delivery or a judge orders otherwise:

(a)     by sending the notice by registered mail to the last known address of the encumbrancer or party;

(b)     in the same way as a party is notified of a proceeding made under Rule 31 - Notice, as if the notice were an originating document.

(3)   A subsequent encumbrancer or other party may make a motion for payment of the surplus fund.

(4)   A judge may take accounts, make inquiries, tax costs, and order distribution of the surplus.