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California asks residents to grab their ‘pot of gold’

March 18, 2019

Californians have the opportunity to claim 48 million properties worth a combined total of $9.3 billion, according to the state controller’s office. [Cal Coast Times]

Unclaimed property law in California protects consumers by requiring banks, insurance companies and other businesses to transfer property to the state controller following a period of no activity, typically spanning three years. Common types of unclaimed property include savings or checking accounts, insurance benefits, uncashed checks, wages, stocks, bonds and items in safe deposit boxes.

A St. Patrick’s Day-themed news release issued by the state controller’s office says Californians do not need “the luck of the Irish” to find their unclaimed property. Owners of missing property can simply type their name into a state database at claimit.ca.gov and “search for lost or forgotten funds at the end of the rainbow.”

“Finding your money or property that you may have forgotten is easier than spying a four-leaf clover,” State Controller Betty Yee said in a statement. “There’s no time like the present to see if there is any ‘green’ waiting for you at claimit.ca.gov.”

Last month alone, more than 33,000 people received properties worth about $23.5 million, the news release states. The state paid out more than $1 million for claims of previously unclaimed property in San Francisco alone during February.

San Francisco led all California cities with owners receiving 874 properties valued at $1.58 million. Santa Ana followed with 267 reclaimed properties valued at $488,485.

Property owners who find their funds or goods in the state controller’s database may submit a claim at claimit.ca.gov or by calling (800) 992-4647.


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r0y isn’t far off. I submitted two claims totaling about $400. I had to include copies and all of my personal info. It has been about 5 months and I am still waiting.


2

After filling out the form and having it notarized, you’ll get a letter a few weeks later saying it will take them 8+ months to get back to you. It’s pretty sketchy. I love how the state thinks they are “protecting” consumers by confiscating their property.


Only a government would not see the irony in that.


11

“It’s pretty sketchy.” You have no idea what you are talking about.


My insurance had sent my $350 to the state. One online form, 5 minutes to fill out, 3 weeks later had my check. It was that easy.


But you can pretend it’s “confiscating their property.” if it makes you feel good.


-4

The confiscate public monies that is not theirs because the owner of the account didn’t make any inquiries, deposits or withdraws in a year.Yes that is confiscation. Our government then sits on it for weeks, months or?? until the owner realizes hes been screwed and whats their money back. Mean while the Gov makes bank off interest. That’s how kettle. Real rocket science for ya kettle.


3