(Part 2 of 2) George Tamayo, manager of the unclaimed funds division in Texas states "From our experience, we determined we were getting the most bang for our buck on eBay." to which he adds "It's more cost-effective, because we are able to do the auctions ourselves." TX was one of the first to make use of the online auction site early in 2002, changing from the old method of disposing of the abandoned property through live physical auctions. (...)" />

January 15, 2012

Locate Texas Lost Money – Part 2 of 2

(Part 2 of 2)

George Tamayo, manager of the unclaimed funds division in Texas states "From our experience, we determined we were getting the most bang for our buck on eBay." to which he adds "It's more cost-effective, because we are able to do the auctions ourselves." TX was one of the first to make use of the online auction site early in 2002, changing from the old method of disposing of the abandoned property through live physical auctions. According to Jackie Schroeter, safe deposit box manager for Texas, posting on online auctions saves her office time and effort. With the live physical auctions, the office of Unclaimed Property would have had to close down to organize them, due to lack in manpower. It just takes a couple of clicks of your mouse now.

The earnings from these auctions go back to the Texas unclaimed money fund where they still can be reclaimed by their rightful owners at any time. "The Unclaimed Property List contains the names of Texans with property valued at $100 or more that was reported to the state within the last year.", says Texas Comptroller Carole Keeton Strayhorn who added in a recent report, "Since I took office, I have returned more than $532 million in unclaimed property to its original owners,"

This is good news indeed for residents of the Lone Star State, but don't expect that the Comptroller show up at your front door and hand your unclaimed funds to you. Unless you don't have an immediate need for extra cash in your pocket, you should start searching for unclaimed money in Texas or other states now!

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