California Unclaimed Property is held by California State Controller's Office, which is presently in possession of over $5.1 billion in unclaimed property. These unclaimed assets and properties belong to about 8.2 million individuals and enterprises. The State of California Unclaimed Property Law requires holders of abandoned property to report to the Controller's Office on an annual basis. Such holders may include corporations, financial institutions, business associations and insurance companies among others.
The CA Unclaimed property consists of intangible properties, funds, cash, money, etc and may include stocks, bank accounts, mutual funds, bonds, dividends, safe deposit box contents, uncashed cheques, certificates of deposit, insurance policies, estates, escrow accounts and many more. CA Unclaimed Property Law does not include California Real Estate Property. The law further says that if the holder is not able to trace the owners or their heirs of such property within a period of three years, then the property must be transferred to the state for safekeeping.California Unclaimed Property Office |
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