Abandoned Motor Vehicle Act - Remitting Excess Funds to the Department
Information for businesses removing abandoned or unclaimed motor vehicles from public rights of way and private or public property to recover their costs. The following businesses may use this process: (1) towing and storage firms, (2) repair facilities, and (3) salvage dealers.
Remitting Excess Funds to the Department
When one of these businesses has, pursuant to a court order, sold an abandoned or unclaimed motor vehicle at public sale, it may satisfy its lien on the vehicle. Then, the business must remit the remaining proceeds of the sale to the Department of Revenue (the “Department”) no later than 15 business days after the date of the sale. The business may deduct the cost incurred by the advertisement of the public sale, up to $120, and the cost incurred by holding the public sale, up to $200. The business must submit to the Department:
- The excess funds.
- A completed
Form
UP-1MV, Holder Report Summary – Motor Vehicle Sale
. - A completed
Form
UP-2MV, Vehicle Detail Report Form – Motor Vehicle Sale
.
- A copy of the bill of sale.
- A copy of the court order authorizing the sale.*
*The business should save for its records copies of the receipts of the sale costs.
Making a Claim for Excess Funds to the Department
Any person claiming a property interest in the vehicle and the excess funds (i.e. vehicle owner, lienholder) may make a claim to the Department within six months of the sale.
If the excess funds remain unclaimed for more than six months, any person claiming a property interest in the funds, or the towing and storage firm, repair facility, or salvage dealer, may make a claim.** If the towing and storage firm, repair facility, or salvage dealer is making the claim, it must submit:
**Please note: If more than one claim is made during this six-month period, the party first making an authorized claim will be entitled to the funds. No claim will be authorized after one year from the date the funds were remitted to the Department.
For More Information
Contact the Georgia Unclaimed Property Program at 855-329-9863 from 8:00am to 4:30pm EST, Monday through Friday, excluding holidays.