There’s nothing quite like finding a hidden treasure you didn’t even know existed. Searching the state’s unclaimed property database may very well be like discovering money in your coat pocket from last winter. It feels like receiving an unexpected gift, even though the money already belonged to you anyway!
What is unclaimed property?
Any financial asset that has not been claimed for a specified period of time, which varies depending on the type of property, is considered abandoned or unclaimed. Examples of property that can become abandoned are:
- Dividend, payroll, or cashier's checks
- Stocks, mutual fund accounts and bonds
- Utility deposits and other refundsa
- Bank accounts and safe deposit box contents
- Insurance proceeds
- Mineral interest or royalty payments
- Court deposits, trust funds and escrow accounts
Why does it go to the state?
Businesses, financial institutions and government entities are obligated to report and remit any property they are holding that is considered abandoned or unclaimed to the state. Once remitted to the state, the business is free of all liability and protected from any subsequent claim made on the property.
Is there a time limit for claiming property?
The comptroller’s office acts only as a custodian for the unclaimed property’s owner, holding the property in trust until it is claimed. Texas never takes legal ownership of the property, so there is no time limit for filing a claim.
This website is provided by the Texas Comptroller and contains a free, easy-to-use search feature that will help you locate any unclaimed property you may have.
Check it out today! claimittexas.org |
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