January 22, 2010, Texas, USA – As per the official statement of the Unclaimed Texas Money & Property Division of the Texas State Comptroller’s office, Texas presently holds around $ 2 billion in the form of unclaimed money and properties. Such a huge amount of unclaimed Texas money and property has been waiting for its rightful owners. Surveys predict that at least one in every four Texan has some kind of unclaimed property and other assets.
For the last few months more than 30 Texas newspapers are publishing The Texas Comptroller of Public Accounts 2009 unclaimed property regional lists which include the names of people with $250 or more in unclaimed property as reported this year. These regional lists are put up statewide to enable people locate their due claims.
All such properties, therefore, are turned over to the Comptroller’s office annually where the owner’s whereabouts is unknown, or properties that have been abandoned or unclaimed as per records of the reporting company between three and five years.
“Those efforts include searching the unclaimed property list at conventions, festivals, sporting events and other venues that attract large crowds – in addition to the longstanding exhibit at the State Fair of Texas in Dallas’ Fair Park. The Comptroller has added temporary staff to process simple claims from original owners of unclaimed property, freeing veteran staff to handle complex claims. An average of 2,000 simple claims is processed each week,” the comptroller’s office said in a news release.
Combs said nearly 49,000 owners reclaimed $100 to $500; about 15,000 owners reclaimed $500 to $1,000; and more than 17,000 people claimed more than $1,000.
In these times of economic crisis, one of the startling facts is that not all unclaimed property belongs to individuals and businesses alone. A whopping $1.6 million of unclaimed money is owned by the City and county governments in fiscal 2009.
The office is trying its best to deliver the unclaimed money and property to its rightful owners. In the fiscal year 2009, the Comptroller’s office returned more than $147 million, about $24 million more than in 2008.
The easiest way for the citizens to know whether they own any unclaimed Texas money or property is to do an online search. While keying in your name online, they are asked to try different spellings and variation of their names. Women must remember that unclaimed money may be lying in their maiden name.
Billions of dollars in dormant or lost accounts go without ever being found, when government, companies and banks lose track of the true owners of the money. There is an alphabetical list of people whose last known address was Texas and who are due for receiving such unclaimed money or property for the number of years prescribed by statute. If you ever know of anyone who has moved or died, there is a probability that the state of Texas is holding unclaimed Texas money in their names.List your legal jobs on the LawFuel Network