SAN ANTONIO – Forget your couch cushions — you should check with the Texas Comptroller of Public Accounts for money you forgot about.
The state of Texas is currently holding over $10 billion in unclaimed property, the majority of which is cash. Notably, more than $492 million of this amount belongs to residents of Bexar County.
The Texas Comptroller’s office manages these funds, and a simple call or a quick search on the state’s website can help you determine if you have any unclaimed property waiting for you.
Unclaimed property generally refers to money reported to the state that has been abandoned by its owner, usually after one to three years. This can encompass a variety of assets, including uncashed checks, overpayments, abandoned bank accounts, insurance proceeds, or mineral interests.
Additionally, unclaimed property may also include the contents of safe deposit boxes, such as jewelry or collectibles. However, it’s important to note that real estate and vehicles are not included in this category.
To assist residents in finding their unclaimed property, the comptroller’s office hosted an in-person event at its San Antonio enforcement office recently.
One attendee, Paul Taylor, an attorney, discovered he had around $54 in unclaimed property personally, along with an impressive $21,000 linked to his business. “Well, it makes me realize why I hadn’t been able to pay my bills in the past,” he humorously remarked.
According to Diaz, an official from the comptroller’s office, the average claim amount for residents in Texas typically ranges from $500 to $1,000.
How do you get your money?
To check for any unclaimed property that may belong to you, visit the state’s unclaimed property website and enter your name, city, and ZIP code.
Review the results for any addresses where you have previously lived and “claim” any amounts that appear to be yours.
To successfully complete your claim, you will need to provide additional information, including a copy of an official ID and your Social Security number.
For those who are more comfortable, Diaz mentioned that the website is encrypted, and Texans can also call the comptroller’s office to provide their Social Security number over the phone. Alternatively, they can mail a copy of their ID directly.
Depending on the nature of the unclaimed property, additional documentation may be required. However, once the state verifies that the property belongs to you, a check will be mailed to you promptly.
It’s worth noting that every state has its own website for checking unclaimed property. For those wishing to search across the country for funds, the website MissingMoney.com can be a useful resource.
