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California Controller Urges Public To Search Unclaimed Property Database

On June 15, 2012, Controller John Chiang released this video. Read the script here:

Hi, this is State Controller John Chiang with an important message.

Our state is holding more than $6 billion dollars’ worth of unclaimed property. Some of this property may belong to you. 

I want to help you learn what unclaimed property is and where to find it.

You may be asking yourself, "What is unclaimed property?"

Unclaimed property is lost or forgotten financial accounts. The most common types include cash in inactive bank accounts and overpayments made to businesses. It may also come from terminated insurance policies, stocks, securities and utility deposits.

In many cases, businesses have lost contact with the customer and sent the account to the State for safekeeping.  

Other types of unclaimed property include precious valuables or collectors’ items found in abandoned safe deposit boxes.

In many cases, owners of unclaimed property are unaware their property is considered unclaimed. They may simply have moved, changed addresses or failed to receive notifications from a business or financial institution.

With more than 17 million unclaimed property accounts in the State, you can easily search for funds that may belong to you, your friends or family members.

To search for unclaimed property, visit www.claimit.ca.gov.  If you find something in your name, you can claim it by following the instructions on the page.

Please share this video with your friends.  You never know...There may be hundreds or even thousands of dollars waiting for you.

Good luck searching and thank you for watching.