Texas Holds $4 Billion In Unclaimed Money; It Could Be Yours

DALLAS, TX — Texas Comptroller's Unclaimed Property Division has paid some $2 billion in unclaimed money since it began in 1962, but an estimated $4 billion more in cash and other valuables still remain unclaimed.

Lost or unclaimed money like forgotten savings accounts, lost paychecks and stocks or bonds end up at the comptroller's office by way organizations required to report dormant accounts. The money lies in the Unclaimed Property Division until the right person comes along with a proper claim.

It does not include real estate or vehicles.

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

The unclaimed property division processes online claims within two weeks while paper claims take longer to process. Some of the types of unclaimed funds accounts include:

• Bank Accounts – savings, checking and CDs
• Court Funds
• Dividends
• Estate Proceeds
• Insurance Benefits/Policies
• Stocks, Bonds, Mutual Funds
• Telephone/Utility/Security Deposits

In 2016 alone, the Texas Comptroller paid out a record-breaking $281 million.

Claims can be submitted online or via email. The Comptroller's Office has more information here on how one can go about filing a claim in Texas.

The city of Dallas also holds unclaimed funds in amounts less than $100. Check here to see if Dallas has money owed to you.

The best ways to stop your assets from becoming unclaimed property are to keep accurate financial records and to contact your bank directly if you move, according to the Texas Comptroller's Office.

Click here to see if the Comptroller has money owed to you.
Image via Patch, Shutterstock