Is the State Holding Your Unclaimed Property?

Greetings,

California’s Unclaimed Property Law reunites lost and abandoned property with the rightful owner or heirs, and safeguards private property from being lost or forgotten. 

After three years have passed without contact from the property owner, the law requires corporations, businesses, financial institutions, insurance companies and other entities to annually report and turn over any property to the State Controller’s Office. 

Before unclaimed property is transferred to the state, businesses send out a notice to the owners informing them that their property will be transferred to the State Controller’s office. This gives owners an opportunity to get their property from the business before it is transferred to the state.

THE MOST COMMON EXAMPLES OF UNCLAIMED PRIVATE PROPERTIES INCLUDE:

💲bank accounts and safe deposit box contents

💲 uncashed cashier’s checks or money orders

💲 matured or terminated insurance policies

💲 stocks, bonds, mutual funds, or dividends

💲 certificates of deposit

Note: The law does not include real estate.

Unclaimed property is held indefinitely for safekeeping. There is no time limit and no fee associated with filing a claim or having your property returned.

Searching the database is free, and claims under $5,000 can be filed online. To see if the State is holding unclaimed property in your name, visit the State Controller’s website at sco.ca.gov or claimit.ca.gov

If you need any assistance navigating the State Controller’s website, or would like to discuss matters important to you, my office is here to help and can be reached at (925) 944-4901 or by visiting my website. As always, it is my honor to serve you.