California Unclaimed Property

You may be richer than you think.

The State of California is currently in possession of more than $4.8 billion in Unclaimed Property belonging to approximately 7.6 million individuals and organizations.

The State acquires unclaimed property through California's Unclaimed Property Law, which requires "holders" such as corporations, business associations, financial institutions, and insurance companies to annually report and deliver property to the Controller's Office after there has been no customer contact for three years. Often the owner forgets that the account exists, or moves and does not leave a forwarding address or the forwarding order expires. In some cases, the owner dies and the heirs have no knowledge of the property.

The most common types of Unclaimed Property are:

• Bank accounts and safe deposit box contents
• Stocks, mutual funds, bonds, and dividends
• Uncashed cashier's checks or money orders
• Certificates of deposit
• Matured or terminated insurance policies
• Estates
• Mineral interests and royalty payments, trust funds, and escrow accounts
• California Unclaimed Property Law does NOT include real estate property.

There is no charge to file a claim for Unclaimed Property. Last year, more than 239,000 accounts were returned, and the average amount received was almost $1,000! You can use this Web site to search for property you may have lost or forgotten. There are 7.6 million accounts, so there is a good chance that you, a friend or family member has unclaimed property.

Click the piggy bank to see if Controller Westly's Office is holding Unclaimed Property for you.

• annual percentage rate

§1500. How Cited
This chapter may be cited as the Unclaimed Property Law, CA.

§1501. Definitions
As used in this chapter, unless the context otherwise requires:
(a) "Apparent owner" means the person who appears from the records of the holder to be entitled to
property held by the holder.
(b) "Banking organization" means any national or state bank, trust company, banking company, land
bank, savings bank, safe-deposit company, private banker, or any similar organization.
(c) "Business association" means any private corporation, joint stock company, business trust,
partnership, or any association for business purposes of two or more individuals, whether or not for profit,
including, but not by way of limitation, a banking organization, financial organization, life insurance
corporation, and utility.
(d) "Financial organization" means any federal or state savings and loan association, building and loan
association, credit union, investment company, or any similar organization.
• Bureau of Unclaimed Property in California.

Article 2
Escheat of Unclaimed Personal Property in California

Section
1510. Intangible personal property — Conditions for escheat to state
1511. When sum payable on money order, travelers check, or similar written instrument on which business
association directly liable escheats to state
1513. When property held by business association escheats to state
1513.5. Notice of escheat given by banking or financial organization
1514. Safe deposit box
1515. Funds held by life insurance corporation
www.sco.ca.gov/col/ucp/lawregs/ucplaw.pdf

Also see other states for lost money:
• Alabama unclaimed assets
• California unclaimed property
• Florida unclaimed assets
• Texas unclaimed property
• Missouri unclaimed property

• California consolidate debt


• Debt
• Unclaimed Money
• Structured Settlement
• Credit Report
• Creditworthiness
• What is a Loan
• Annual Percentage Rate
• Origination Fee
• Point in a Mortgage
• Bankruptcy
• Debt Consolidation

• Burdened with Debt
• Reducing Credit Card Debt