What Is Unclaimed Property in California? A Complete Guide
If you’ve ever received a letter or email about unclaimed property in California and wondered whether it was real, you’re not alone. Every year, millions of dollars in unclaimed property are reported to the California State Controller’s Office by financial institutions, insurance companies, corporations, and other entities. This property belongs to individuals and businesses who may have forgotten about a bank account, failed to cash a check, or lost touch with a company.
In this blog post, we’ll break down exactly what unclaimed property is, how it ends up with the state, and how you can claim what’s rightfully yours. Let’s explore how Claim My California Property can help you recover lost assets efficiently.
What Is Unclaimed Property?
Unclaimed property refers to financial assets that have been abandoned or inactive for a specific period—usually three years—in the hands of a business or government agency. These assets are then turned over to the California State Controller’s Office Unclaimed Property Division for safekeeping.
Examples of unclaimed property include:
• Dormant bank accounts
• Uncashed checks
• Insurance proceeds
• Utility refunds
• Stocks and dividends
• Safe deposit box contents
The California Unclaimed Property Law was enacted to ensure that property owners have a way to reclaim what is legally theirs, even after years have passed.
How Does Property Become Unclaimed?
When there’s no contact or activity from the owner for a certain amount of time, the holder (such as a bank or business) is legally required to attempt contact. If those efforts fail, they must report and transfer the assets to the state. This process is called escheatment.
You can read more about this process on the California State Controller’s official FAQ page.
Who Can Claim Unclaimed Property?
Anyone who can prove legal ownership can file a claim. This includes:
• The original owner
• Heirs or beneficiaries
• Executors or administrators of an estate
If you believe the property belongs to you, the California Claim Search Tool is the first step.
How to Search for Unclaimed Property
1. Visit the California Unclaimed Property Search
2. Enter your full name or business name
3. Review the results
4. Submit a claim for any matches
We make this easier at Claim My California Property, offering guided claim assistance to simplify the process.
Common Types of Unclaimed Property
Some of the most frequent types of unclaimed property reported include:
Is There a Deadline to Claim My Property?
No. In California, there’s no time limit to file a claim. Once the property is reported to the state, it remains there until claimed. Learn more on the State Controller’s long-term holding policy.
Is There a Fee to Claim Property?
The state does not charge a fee. However, many people use third-party services like Claim My California Property to help gather documents, verify identity, and increase the chances of a successful and faster claim.
How Long Does It Take?
The State Controller’s Office generally processes claims within 30–180 days, depending on the complexity and documents submitted. Incomplete or inaccurate applications can significantly delay the process.
Avoiding Scams
There are legitimate finder services, but beware of scams. Always verify credentials and avoid giving out sensitive information unless you’ve confirmed the legitimacy. Review the California Department of Justice’s advice on unclaimed property scams.
Why Use Claim My California Property?
While you can claim property on your own, our team offers:
• Personalized assistance
• Document preparation
• Identity verification
• Status tracking
We help avoid errors that lead to rejections and delays. Start your recovery with Claim My California Property.
Interesting Facts About California’s Unclaimed Property Program
• The state currently holds over $11 billion in unclaimed assets
• Millions of Californians have unclaimed property
• In 2023, over $350 million was returned to rightful owners
• You can claim property on behalf of deceased relatives
Check out California’s Annual Reports for detailed data.
25 Helpful Resources and Backlinks
Here are 25 links you can explore to learn more about unclaimed property in California and beyond:
1. California Unclaimed Property Search
2. California State Controller’s Unclaimed Property Page
3. California Code of Civil Procedure – Unclaimed Property Law
4. FAQ from the California State Controller
5. National Association of Unclaimed Property Administrators (NAUPA)
6. Federal Deposit Insurance Corporation – Lost Accounts
7. Consumer Financial Protection Bureau – Unclaimed Money
8. Internal Revenue Service – Unclaimed Tax Refunds
9. FINRA – Unclaimed Brokerage Funds
10. California Department of Insurance – Life Insurance
11. California Department of Consumer Affairs
12. California Public Utilities Commission – Refund Information
13. Department of Industrial Relations – Wage Claims
14. U.S. Department of the Treasury – Unclaimed Savings Bonds
15. U.S. Courts – Bankruptcy Unclaimed Funds Locator
17. U.S. Pension Benefit Guaranty Corporation – Unclaimed Pensions
18. Social Security – Death Index Search
19. California Safe Deposit Box Contents
20. Unclaimed Property for Business Owners
21. State of California – Franchise Tax Board
22. U.S. Department of Labor – Back Wages Search
23. California Probate Resources
24. California Secretary of State – Business Search
25. Claim My California Property – Start Your Claim
Final Thoughts
Unclaimed property is more common than most people think. If you’ve lived, worked, or done business in California, you might have assets waiting for you. Let Claim My California Property take the hassle out of claiming what’s yours. With our expert assistance and streamlined services, getting your money back has never been easier.