Comptroller announces record $270 million in unclaimed property returns

Submitted by Canton1 on

The Texas Comptroller’s office returned a record $270 million in unclaimed property to rightful owners during the past fiscal year,  said Comptroller Glenn Hegar Sept. 15. This breaks the previous record of $248 million returned in fiscal 2015.

“This record is a tremendous achievement and a testament to our award-winning efforts to return more money to more Texans,” Hegar said. “It highlights our ongoing commitment to reuniting unclaimed property with rightful owners. 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 $2 billion to its owners since Texas' unclaimed property program began in 1962.

In fiscal 2016 — Sept. 1, 2015, through Aug. 31, 2016 — the Comptroller’s office received more than 300,000 claims.

The $270 million in unclaimed property for fiscal 2016 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 turn property over to the unclaimed property program after it has been dormant from one to five years, generally.

There is no statute of limitations for unclaimed property the state is holding, which means there is no time limit for owners to file a claim — they can do so at any time.

For more information about the unclaimed property program, or to search for unclaimed property and begin the claims process, visit the Comptroller's unclaimed property website, ClaimItTexas.org, or call 1-800-654-FIND (3463).
For more stories like this one, subscribe to the Canton Herald or pick up a copy from one of our vendors.