$300 Million in Unclaimed Property Returned in Texas
The Texas Comptroller's Office announced this week that $300 million in unclaimed property has been returned in the fiscal 2020 year. And it's possible that others have unclaimed property in Texas, too.
According to the Texas Comptroller's Office, unclaimed property in Texas can be forgotten utility deposits or other refunds you forgot to claim. They can be cashier's checks, payroll, dormant bank accounts and more.
Since the unclaimed property program began in 1962, Texas has returned over $3 billion dollars to the citizens, according to a press release from the Texas Comptroller's Office:
This is the second time the Comptroller’s office has returned more than $300 million in unclaimed property in a fiscal year. In fiscal 2019, the Comptroller’s office returned a record $308 million to rightful property owners.
“The $300 million represents more than 777,000 properties returned to their rightful owners,” Hegar said. “It’s a testament to the hard-working folks in our Unclaimed Property Division who are performing with distinction despite the challenges presented by the COVID-19 pandemic. I encourage all Texans to visit ClaimItTexas.org to see if the state is holding some of their unclaimed property.”
The Comptroller's office has returned more than $3 billion in unclaimed property to rightful owners since Texas' unclaimed property program began in 1962. The state is currently holding more than $5 billion in cash and other valuables through the program.
The $300 million in unclaimed property returned in fiscal 2020 includes forgotten utility deposits or other refunds, insurance proceeds, payroll checks, cashier’s checks, dividends, mineral royalties, dormant bank accounts and abandoned safe-deposit box contents. Businesses generally turn property over to the unclaimed property program after it has been considered dormant for one to five years.
There is generally no statute of limitations for unclaimed property the state holds, which means there’s no time limit for owners to file a claim — they can do so at any time.
To find out if you have any unclaimed property, visit ClaimitTexas.org.
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