Texas has an unclaimed property department which handles and manages the unclaimed property which is sent to the office. State law requires the Texas Comptroller’s office to hold abandoned and unclaimed property reported by businesses and financial institutions until its owners or their legal heirs claim it. The agency attempts to find the rightful owners of unclaimed properties through annual newspaper advertising, direct mail notices and the agency’s Web site.
While Texas attempts to find people which have unclaimed property or money in Texas, its a good idea to go to the Texas unclaimed property website and search for your name if you believe you have unclaimed property in Texas.
Texas unclaimed property or money could be in the form of funds from a dormant checking and savings accounts, money orders, cashiers checks, mineral royalty payments, safe deposit box contents, unclaimed insurance benefits, lost cash dividends, stock, found utility deposits, or unclaimed security deposits.
Reclaiming Your Property
How do I find out if I have unclaimed property?
First “Search Unclaimed Property”; and follow the directions and provide all requested information. If you prefer to call or write, you need to provide the owner’s name, all previous and current Texas addresses, and a taxpayer identification number or social security number. If a search of our database results in any matches between the information you provide and data reported to us, possible ownership is indicated and we will mail a claim form to you.
How does the claim process work?
The claim form includes instructions for its completion and describes documentation needed in addition to the form. All claim types have general requirements such as:
- standard forms of identification for the owner and for the claimant, if someone other than the original owner is claiming
- verification of the reported address if different than the current address
- death certificate and probated will or other heirship documents if the original owner is deceased
- specific documentation according to the type of property such as a bank statement, insurance policy, the original uncashed check, etc.
Please complete, sign and return the claim form with a copy of your identification even if you are unable to provide all requested documents. In some cases we are able to determine ownership based on the available information you are able to provide.
When we receive your completed claim form, we review it carefully. If there is not sufficient proof of ownership, we may contact you or the reporting institution for further information. We generally process and pay claims within 60 to 90 days of receipt.
Is there a charge for this service?
There is no charge for the inquiry process. If your claim is approved, a handling fee is deducted from the amount returned to you. For claim payments of $100 to $5,000, the fee is 1%. For claims in excess of $5,000, the fee is 1.5%. Claims less than $100 are not assessed a fee.