(Part 1 of 2) People often say everything comes bigger in the Texas- the cowboy boots, longhorned bovines, steaks, cars, prairies, and even piles of money. Texas unclaimed money that is. (...)" />

January 25, 2012

Locate Unclaimed Money in TX – Part 1 of 2

(Part 1 of 2)

People often say everything comes bigger in the Texas- the cowboy boots, longhorned bovines, steaks, cars, prairies, and even piles of money. Texas unclaimed money that is. Texas state comptroller Carole Keeton Strayhorn holds nearly $2 billion in unclaimed money to give away to her state's residents. Actually, it's not so much giving away as giving back since the lost assets was theirs to begin with. Funny thing is that most of the 200,000 residents owed Texas unclaimed monies do not even know they have funds headed their way.

People often forget to collect salary or insurance checks when they find new jobs or move to a new house. They also forget to leave forwarding addresses when they move and this is one of the main reasons for lost checks. When businesses and financial establishments cannot locate the owners of these missing financial assets for 5 years (in Texas), they are turned over to the state as dictated by Texas Unclaimed Money Law which follows the nation's escheat laws. The unclaimed funds sit in the Texas state Comptroller's office until the rightful owners step forward to claim them.

(to be continued)

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