What is Unclaimed Property? Unclaimed property can be any financial asset that has been abandoned by the owner for periods ranging from one to 15 years. The abandonment period is the number of years that the property is held before being sent to the Texas Comptroller of Public Accounts (Comptroller’s office).
However, this money often goes unclaimed. Interested employees may find unclaimed back wages and salaries on the unclaimed money database. Alternatively, they can call the division at (866) 487-9243 or visit the local office in Texas.
Once you detect your property and train a claim, it may take between 90 to 120 days to get your money. However, the process may take longer, If the Texas Comptroller of Public Accounts needs any fresh word from you. The payment will be in the form of a check to your fiscal institution.
The National Association of Unclaimed Property directors’ website www.unclaimed.org is an excellent resource. This association consists of state officials charged with the responsibility of reuniting misplaced possessors with their unclaimed property in Texas.