Texas Comptroller Manual of Accounts - Fiscal 2024
Revenue Object 3114 – Escheated Estates – Personal and Real Property

All personal property, excluding dormant financial institution accounts, safety deposit boxes and mineral proceeds, of a deceased person which has gone unclaimed for a specific period of time from the date of death during which time the property has been properly advertised is subject to escheat. Personal property which has remained unclaimed by an owner for periods varying from three to 15 years and which has not been claimed when properly advertised based on reports of holders following the prescribed period is also subject to escheat. For example, stored value cards are presumed abandoned to the extent of the unredeemed value on the earlier of the card's expiration date or the 3rd anniversary of the issue date; unclaimed wages are presumed abandoned after one year; travelers checks and money orders are presumed abandoned after seven years. All property, other than money, is sold to the highest bidder at public sale, if the highest bid is deemed a fair price for the property, and the value of the property exceeds the probable cost of the sale.

For personal properties escheating to the state, the court issues a writ to the sheriff, who sells and retains amounts to cover court costs before remitting to the state. For real property escheating to the state, the General Land Office holds in trust for the use and benefit of the Foundation School Fund (0193).

On or before July 1.

Amended by S.B. 1156, 68th Leg., R.S.

Amended by S.B. 906 and S.B. 907, 69th Leg., R.S.

Originally deposited to State Conservator Fund (No. 0164).

Deposit changed to Unclaimed Money Fund (No. 0551) by S.B. 906, 69th Leg., R.S. Revenue exceeding amounts deemed by the Treasurer as necessary to pay claims were allocated to General Revenue (No. 0001) and Foundation School Account (No. 0193) in equal amounts, at least once during each fiscal year.

Deposit changed to General Revenue 8-31-95 per Government Code § 403.094(h).

Stored value card language added by S.B. 446, 79th Leg., R.S. which required 5% to be transferred for use as grants under subchapter M, chapter 56, Education Code. This dedication was not exempted under funds consolidation, so no transfer will be required.

H.B. 247, 82nd Leg., R.S. changed due date to July 1.