We study the topological $μ$-calculus, based on both Cantor derivative and closure modalities, proving completeness, decidability and FMP over general topological spaces, as well as over $T_0$ and $T_D$ spaces. We also investigate relational $μ$-calculus, providing general completeness results for all natural fragments of $μ$-calculus over many different classes of relational frames. Unlike most other such proofs for $μ$-calculus, ours is model-theoretic, making an innovative use of a known Modal Logic method (--the 'final' submodel of the canonical model), that has the twin advantages of great generality and essential simplicity.