The Texas comptroller says people have claimed a record amount of property that had been sitting idly over the past year. Glenn Hegar says his office has paid out $309 million in unclaimed property in the past year.
"The $309 million represents more than 160,000 claims paid to their rightful owners, and the fact that my office has returned $2.1 billion to Texans since I became Comptroller is a testament to the hardworking folks in our Unclaimed Property Division," Hegar wrote in a statement.
The claims cover items like utility deposits, insurance checks, payroll checks, cashier's checks, dividends, mineral royalties and dormant bank accounts.
Despite the amount paid in the past year, Hegar says his office is still holding $7 billion in unclaimed cash and property.
He says the office is now preparing to implement a bill passed by the legislature last year. HB 1514 passed both chambers of the legislature unanimously and was signed by the governor. The measure requires the comptroller's office to automatically return unclaimed property worth up to $5,000 if it can be linked to the correct owner.
"There is generally no statute of limitations for unclaimed property the state holds, which means there’s no time limit for owners to file a claim — they can do so at any time," Hegar's office says.
People can check ClaimItTexas.org or call (800) 321-CASH to see if they have unclaimed property.
Related
LISTEN on the Audacy App
Tell your Smart Speaker to "PLAY 1080 KRLD"
Sign Up and Follow NewsRadio 1080 KRLD