Unclaimed Property PSA - Sen. Dodd
Senator Bill Dodd (D-Napa) informs residents that the State of California is trying to return $8 billion to its rightful owners.
California’s Unclaimed Property Law requires “holders” such as corporations, business associations, financial institutions, and insurance companies to annually report and deliver property to the State Controller’s Office after there has been no customer contact for three years. Often the owner forgets that the account exists, 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.
To learn more, visit the state's unclaimed property database.