Many Texans have money waiting for them that they may not even know exists. Unclaimed funds can come from old bank accounts, insurance proceeds, utility deposits, dividends, refunds, payroll checks, or other sources that were never successfully delivered to the rightful owner.
What is Unclaimed Money?
Unclaimed money is property that a business, financial institution, or other organization has been unable to return to its owner. After a certain period of time, these funds may be turned over to the State of Texas until the rightful owner or heir claims them.
How many times have you moved or changed addresses over the years?
Each move creates another opportunity for a check, refund, deposit, overpayment, or other payment to be sent to an old address and eventually become unclaimed property.
Common Types of Unclaimed Property
Unclaimed property can include old bank accounts, uncashed checks, insurance proceeds, utility deposits, refunds, wages, stocks or dividends, overpayments, and other funds that were never successfully delivered to the owner.
Why Unclaimed Money Happens
Unclaimed money often results from ordinary life changes. Moving to a new address, changing jobs, closing an account, losing contact with a company, or having a loved one pass away can all make it easier for money to become separated from its rightful owner.
For example, you may have been named as the beneficiary of a life insurance policy years ago. If you moved and the insurance company could not locate you, you might never have known that proceeds were waiting for you.
How to Search for Unclaimed Money in Texas
The State of Texas maintains an official property database where individuals can search for property that was reported in their name. A search can be a good first step, but matching names, old addresses, deceased relatives, and supporting records can sometimes make the process more complicated than it first appears.
What if the Property Belonged to a Deceased Relative?
When unclaimed property belonged to someone who has died, the rightful claimant may be an heir, beneficiary, executor, administrator, or other legally authorized person. Additional documentation may be required to show the relationship to the deceased owner and the right to claim the funds.
When Professional Assistance May Help
Professional assistance may be helpful when a claim involves old records, multiple possible owners, deceased relatives, missing documentation, or questions about what information may be required. Walker Asset Recovery Group helps clients research potential funds, organize supporting information, and assist throughout the recovery process.
Take The First Step
If you believe you or a family member may have unclaimed funds in Texas, Walker Asset Recovery Group can help review the information and explain the next steps. Start by completing our Recovery Request Form so we can learn more about your situation.