Making the Most of Unclaimed Property in Texas

Locate unclaimed property of Texas to use in your business

The first step to making the most of unclaimed property in Texas is to determine the department that tracks unclaimed property. This varies according to state and in Texas it is the Texas Comptroller of Public Accounts. Texas requires businesses and government entities to turn certain unclaimed property over to the state within three to five years. The holders of the property are required to provide the name and last known address for owners of abandoned property.

Texas unclaimed property held by a government entity and worth less than $100 dollars typically remains in the custody of that entity. Cities and counties in Texas typically maintain their own lists of unclaimed property which you will need to search separately.

Texas state unclaimed property generally falls into one of the following categories:

1. Liquid assets such as a uncashed checks, a bank account or the contents of a safe deposit box;

2. Abandoned property that the original owner is unlikely to claim, usually a wrecked vehicle or real estate with delinquent taxes;

3. Property confiscated by law enforcement, such as a drug or tax seizure

 

Find agencies that handle state of Texas unclaimed property

Start at the state level if you are looking for property that belongs to a specific person and work down.
Try: The Texas Comptroller keeps a database of unclaimed property that it holds that allows you to search by name and city. You can find the current list for unclaimed property in Texas at Unclaimed Funds Processing.

Buy a vehicle in a TX unclaimed property auction

Look at the various auctions that occur regularly throughout Texas if you are interested in bidding on a car. Vehicles are typically the mainstays of unclaimed property auctions and consist of abandoned vehicles, vehicles seized by law enforcement and surplus vehicles.
Try: Austin Goodwill maintains a schedule of events in Central Texas which includes vehicle auctions. The San Antonio Police Department conducts regular auctions of items in its property room including vehicles.

Search for Texas unclaimed properties in your city

Most cities in Texas have a department that attempts to reunite unclaimed property with its owner. This department can answer specific questions regarding lost or abandoned property.
Try: Houston's controller tracks unclaimed funds that the city owes to individuals, cities and the state. The city of Waco keeps unclaimed funds of $100 or less and sends amounts greater than this to the state comptroller’s office.

 

• The process of turning over unclaimed property in Texas to the state is called escheatment and legal documents may therefore refer to the property as escheat. Texas businesses usually encounter escheat in the form of an unclaimed pay check.

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