Texas Comptroller Announces $308 Million In Unclaimed Property Returned
The Texas Comptroller's office announced on Wednesday a huge amount of unclaimed property claims that were approved and paid in the past fiscal year.
According to a press release, Texas Comptroller Glenn Hegar announced that a record $308.4 million was paid. That figure broke the previous record set in 2017 of $281 million.
“Since I took office, I have been committed to returning more unclaimed property to the rightful owners across our great state,” Hegar said. “The hard-working team in our Unclaimed Property division has made this record-breaking year possible. They have helped implement new technologies to make claiming money easier than ever before, and they strive every day to improve customer service and build a more efficient claims process. I want to thank them for their commitment and dedication to the people of Texas.”
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 $308 million in unclaimed property returned in fiscal 2019 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.
To see if you have any unclaimed property, visit ClaimItTexas.org. There is no timetable for you to claim property and you are able to submit claims for any year at any time.