Jan 132005
The contents of unclaimed safe deposit boxes in Texas are sent to the Texas Comptroller of Public Accounts (Carole Keeton Strayhorn). The Texas comptroller has moved the Unclaimed Property Auctions to Ebay. According to the auction listings, Texas is holding over 1 billion dollars in unclaimed property.
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Texas is not the only state to auction off unclaimed/abandoned property. So does California, Colorado, WA DC, PA and others. That does not mean the original owner does not still own the property, it just means the property has now been converted to cash, so the owner has claim to cash instead of the tangible property.
Bing