There is now a website informing Texans whether there is unclaimed money available from the state that you may not have known about.
According to the Unclaimed Property Division of the Texas Comptroller’s Office, the state has returned over $3 billion in unclaimed property.
Abandoned assets might include bank account balances, stocks, overpayments of utility, insurance, or other bills, and unclaimed tax returns, and are considered unclaimed property.
The website has a searchable database that lists unclaimed properties throughout the state and directs users through the process of finding them.
Assistant Director at Comptroller of Public Accounts, Bryant Clayton, explained to KHOU 11, “Most of the time it’s things like folks received a check but didn’t realize that was what was in the envelope, so they threw it out.”
However, it is not just cash that Texans could be missing out. Treasures of all kinds have been placed in the Comptroller’s vault, including diamonds, first-edition books, and memorabilia, as unclaimed items from defunct safety deposit boxes end up there.
All businesses and institutions are required to report any property that has been unclaimed for at least five years to the state. When the authorities cannot locate a rightful owner, the property is listed on the Unclaimed Property Division’s website.
Logging in is as easy as typing in your name. Users are first able to see if they have unclaimed property. If so, it can be claimed on the website. The status of a submitted claim may also be tracked.
With official documentation proving ownership, the property can be claimed.
Clayton explained, “We try our very best through various outreach methods to let them know about us and about our website and how to claim their funds.”
A few tips offered by the Texas Unclaimed Property Division to avoid seeing your assets end up on their website include keeping up with bank accounts and records, making sure your insurance beneficiary information is updated, directly contacting financial institutions and other entities which whom you do regular business to announce address changes if you move, and making sure your information with former employers is current for collecting any future benefits.
Best not to take too long to make your claim! Items get auctioned off one to five years after they come into the possession of the Unclaimed Property Division.
Check out the site here.