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Home / News / Business / Texas lost property returns set another record

Texas lost property returns set another record

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By Travis Gumphrey

THE STATE’S public-accounts comptroller’s office has returned a record $248m in unclaimed property to its rightful owners this fiscal year, breaking the record set last year with time to spare.
The property returned during fiscal year 2015, which ends on August 31, includes forgotten utility deposits or other refunds, insurance proceeds, payroll checks, cashier checks, dividends, mineral royalties, dormant bank accounts and abandoned safe-deposit-box contents.
Generally, businesses turn property over to the unclaimed property program after it has been dormant for between one and five years.
There is no statute of limitations on the unclaimed property held by the state, so there is no time limit for owners to file a claim.
Since the unclaimed-property program began in 1962, the state comptroller’s office has returned more than $2 billion to rightful owners. Last year, the program returned $205m.
On Thursday, comptroller Glen Hegar said: “I want to encourage all Texans out there to visit claimittexas.org to see if the state is holding some of their unclaimed property.”
To search for unclaimed property and to make a claim, go online to claimittexas.org.

Hegar, Glenn-comptroller              Glenn Hegar

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