(Part 2 of 2) George Tamayo, manager of the unclaimed funds division in Texas says "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 website early in 2002, switching from the traditional method of dealing with abandoned properties through live physical auctions. (...)" />

February 5, 2012

Locating TX Unclaimed Assets – Part 2 of 2

(Part 2 of 2)

George Tamayo, manager of the unclaimed funds division in Texas says "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 website early in 2002, switching from the traditional method of dealing with abandoned properties through live physical auctions. According to Jackie Schroeter, manager of safe deposit boxes in TX, selling items on online auctions saves her office time and effort. With the live physical auctions, the Unclaimed Property office would have had to close down to coordinate them, due to a lack in manpower. It only takes a few clicks with a computer mouse these days.

The proceeds from these auctions are returned to the TX unclaimed money fund where they still can be claimed by the people they belong to 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 TX Comptroller Carole Keeton Strayhorn who added in a recent statement, "Since I took office, I have returned more than $532 million in unclaimed property to its original owners,"

This is terrific news indeed for people living in the Lone Star State, but don't think that the TX Comptroller show up at your front door and hand your unclaimed funds to you. Unless you don't have an immediate need for extra bucks in your pocket, you should search for unclaimed money in TX or any other state these days!

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