Heir finders or asset locators are individuals or companies that offer to reunite the apparent owner or heirs with unclaimed property for a fee.

For property reported to the State of California, owners DO NOT have to use an heir finder to file a claim.

• Owners of Unclaimed Property can conduct a property search for free on the State Controller's Office Web site.
• If an owner chooses to use an heir finder, a full disclosure contract specifying where the property is coming from must be signed between the owner and the heir finder.
• If you have concerns about an heir finder or asset locator, contact your Better Business Bureau.

An heir finder may charge a fee no greater than ten percent of the property value successfully returned.

• The fee limit should cover any and all services connected with returning property to an owner.
• Consumer protection agencies advise that legitimate businesses do not expect payment until the property is returned to the owner.
• An owner should be suspicious if an heir finder asks for money before the owner receives the property or if the fee is not based on a percentage of the value of the property to be returned to the owner.

All heir finders must notify the State Controller's Office.

• Persons or companies conducting business as an heir finder or asset locator in the State of California must notify the Unclaimed Property Division, State Controller's Office.

Other places to check for Unclaimed Property

Besides conducting a property search of our Unclaimed Property database, you may try the links on our Related Web Sites page. In addition, you may want to consider contacting companies where you owned stock or bonds, any banks where you might have had an account, your city or county government accounting offices, or federal agencies such as the Department of Housing and Urban Development (HUD) and the Internal Revenue Service.