How to find unclaimed property in California

Bank accounts, safe deposit box contents and stocks may be turned over to the state of California as unclaimed property. In addition, certificates of deposit, insurance policies and royalty payments from various sources may also be held by the state. Enigmatic advertisements are constantly telling people that they can find property that belongs to them by paying a fee. Do not fall for these advertisements, instead, follows these simple steps to find unclaimed funds.

Fees are not necessary

Like most states, California has an unclaimed property division. This department is responsible for dealing with any assets that are turned over to the state due to the California escheatment laws. Those who are deemed as rightful owners or administrators of funds may claim these funds without paying a third party to file a claim.

How do I find the property?

The California State Controller’s office maintains a database of property that has been turned over to the state. This database may be searched online by going to the Controllers UCP (Unclaimed Property) Inquiry System. Users may search for property belonging to an individual, company or government entity. If the state has any property in their possession, the information will be contained
in this database.

How do I claim property that I am entitled to?

California requires any person who has a claim against property that they are holding under the state escheatment laws to file a claim for the property. The forms vary depending on what type of claim is being filed. For example, if you own the property, you may file for yourself. If you are a rightful heir, or administrator of an estate that has a claim to property, different forms may have to be filed. All forms are available from the California State Controllers website. The process is not as cumbersome as it may seem to some; the potential reward is worth the time it takes to read all of the instructions and follow them to claim property you are entitled to.

Unclaimed funds from restitution

Some people who have been victims of a crime may have unclaimed funds due to them. These funds are paid by the perpetrator of the crime and are generally paid directly to the California Department of Corrections and Rehabilitation (CDCR).  Unfortunately, this department may not have access to the address of victims. Any victim who believes they may have unclaimed funds due to being a victim of crime should contact the California Department of Corrections and Rehabilitation Victim Restitution website.

Holders of financial accounts who live in California, those who have had family members who lived in California or those who were victims of crime in California may have unclaimed property being held by the state.  Finding unclaimed property in California is a simple process and there is no charge for placing a claim.  It never hurts to search the database to see if there are funds being held under a personal name or business name. Finding the funds is not complicated and it may turn out to be a very positive experience.