Finding Unclaimed Money in Texas the Easy Way
Unclaimed money and uncollected property lie in treasuries all around the USA while their owners don’t even know they exist.
According to Fort Worth Star-Telegram, Texans have forgotten or abandoned over $5.6 billion in unclaimed money. The Division of the Texas Comptroller has already returned $300 million, which is 77,000 properties, to owners from all counties.
A part of this huge fund might belong to you if you are or were a resident of this state.
Before you start searching for your uncollected funds, we give you a chance to get familiar with the way unclaimed property programs work and learn more about the claiming procedure.
What Is Unclaimed Money and What Does It Include?
The first step toward a better understanding of unclaimed property programs is defining unclaimed money. This expression refers to all financial assets and other properties the original owners didn’t claim from various institutions.
When banks or other financial organizations fail to contact the person who is entitled to the lost money, they report it to the state. In most states, the dormancy period depends on the property type. After that time frame, the holders transfer assets to the state’s treasury and declare them abandoned.
Even though the government assumes the ownership of unclaimed money after the dormancy period, the assets are still available for claiming. Once the rightful owners find out they are entitled to these funds, they can always file a claim and get their money.
Unclaimed funds include the following assets:
- Utility deposits
- Pension checks
- Missed paychecks
- Insurance proceeds
- Stocks and dividends
- Unpaid wages and salaries
- Unclaimed child support money
- Objects from forgotten safe deposit boxes
- Forgotten refunds from various companies
Why Do Texas Residents Fail To Collect Their Money?
Many unclaimed money owners change their contact details without informing the institutions that hold their assets. They forget about those left-behind funds as soon as they relocate, and some of them never remember to collect their money.
Another situation that might happen is the death of a person who didn’t leave a will or whose heirs can’t be located or contacted. In such cases, the money remains on the Comptroller’s Office accounts until the state identifies the inheritors.
Numerous Texans forget about their last paychecks once they resign from a company—if their former employers delay the final payment or if they need to leave quickly, for example. The same happens with pension checks when firms close down.
All these and many more situations cause millions of funds to go unclaimed. Certain owners don’t pick up their uncollected money even though they are aware of its existence. The reason is the alleged complexity of the claim process, but you can resolve this problem much easier than one might expect.
How To Find and Claim Unclaimed Property in Texas on Your Own
To retrieve your property by yourself, you need to look for it in the Comptroller’s Office database and file a claim. You can do it in two ways—online and in person.
How To File a Claim for Unclaimed Money and Property in Texas Online
Here’s the full procedure you need to follow to file a claim online:
- Click on Get Started on the homepage of the treasury’s website
- Type your name and other relevant information and click on Search
- Find all your unclaimed properties within the results provided, click on Claim next to them, and go to View Claimed Properties
- Select your claimant relationship and click Next
- Fill in the online claim form by providing your contact details, Social Security number, etc. and click Next
- Review all the information provided, submit the claim, and wait for a confirmation email that contains your claim code and the instructions regarding the documents you need to provide
- Provide the supporting documents using the Upload Claim Documentation feature
How To Claim Unclaimed Money in Texas in Person
If the online claim process looks like too much hassle for you, it’s also possible to file a claim in person.
All you need to do is visit the Comptroller’s Office Monday through Friday from 8 a.m. to 5 p.m. (Central Standard Time) at:
111 E 17th St
Austin, TX 78711
Make sure to contact the officials before visiting and inquire about the supporting documentation you need to bring with you. You can call them at 800-321-2274 or send an email to email@example.com.
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How To Find and Claim Your Funds in Texas With DoNotPay
Not keen on going through procedures that include multiple steps and interaction with other organizations? DoNotPay can fix this by providing you with the best search tool to locate your unclaimed funds before you know it. Not only will our app let you look for abandoned assets in all U.S. states, but it will also file a claim for you, saving you from daunting additional steps.
To use our platform, follow these steps:
- Log in to your DoNotPay account using your web browser
- Navigate to the Missing Money feature
- Provide our chatbot with your full name, your current, and your former address(es)
- Proceed to Claim My Property if you recognize any uncollected funds under your name
Once you complete the last step, we will save you from dealing with bureaucracy and forward the claim on your behalf. You will receive a confirmation as soon as the state processes your claim.
How To Prevent Your Money From Becoming Unclaimed
Having in mind that money can go unclaimed so easily, here are some important tips for avoiding such situations:
- When relocating or changing your name or contact details permanently, make sure you get in touch with all the institutions that hold your funds and inform them about the changes. They will update your information in their databases, and you will be able to receive your money on time
- In case you are leaving your job, check with your ex-employer whether they have your current address and your contact details. If they have all this information, they can send you all checks or payroll they owe you
- Having accounts in multiple banks? Keep them active, and don’t let them go dormant. If you don’t plan to use any of them anymore, make sure to withdraw the remaining money before you close them and forget about them
- All this may seem too complicated, but you can always make a list of all your active stocks, accounts, investments, and all other financial assets. This way, you will keep a record of everything and react on time to prevent any inconveniences
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