(Part 1 of 2)

People say everything is bigger in the Texas- the cowboy boots, longhorned bovines, steaks, cars, prairies, and piles of money. Texas unclaimed property that is. Texas comptroller Carole Keeton Strayhorn holds nearly $2 billion in unclaimed assets to give away to the state's residents. Well, it isn't so much giving away as giving back since the lost cash was theirs to begin with. Funny thing is most of the two hundred thousand people owed Texas unclaimed monies don't even realize they have funds coming to them.

People often forget about collecting salary or insurance checks when they get new jobs or move to a new house. They also forget to leave a forwarding address after they relocate and this is one of the main causes for lost checks. When business and financial establishments cannot track down the owners of these lost financial assets for 5 years (in Texas), they're turned over to the state as dictated by Texas Unclaimed Property Law which follows the country's escheat laws. The unclaimed funds stay with the Texas state Comptroller's office until the rightful owners step forward to claim them.

(to be continued)

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