Search for your Unclaimed Money (i.e. John Doe's Unclaimed Assets in California)

Monday, November 29, 2010

One in Four Texans have Unclaimed Property

According to the Texas State Controller, one in four Texans have unclaimed assets waiting to be claimed at the state.

Already in 2010, the state has returned over $160 million to residents who have done an easy online websearch for their assets.

According to the treasurer:

The Texas Comptroller of Public Accounts is responsible for administering the Texas Unclaimed Property Program. Property is turned over to the Comptroller's office annually when the owner's whereabouts are unknown and the property has been inactive on the books of the reporting company after the appropriate abandonment period has expired.

Unclaimed Property Statutes

Title 6 of the Texas Property Code governs the State of Texas Unclaimed Property Program. To view the statutes, go to the Texas Legislature Online Web site and select Property Code and the appropriate chapter.

Chapters 72 through 75 apply to the reporting, delivery and claims process for abandoned property. Chapter 76 applies only to unclaimed property held and reported by Texas counties, municipalities and independent school districts.

Is there a time limit for claiming my property?

No, the Comptroller's office acts only as custodian for the missing owners, 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.

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