In this country (and therefore the State of Texas), property is owned by the people – even if some of it is managed, administered, etc. by national, state, and/or local governments.

However, when the rightful owner can’t be found, the property is supposed to be escheated to the government to hold in trust until the rightful owner is located. If this owner is found, the government gives the property to them. If they aren’t found, then the government (as trustee) sells the asset to another private owner. Read the rest of this entry »