Do you know that the State of California holds unclaimed property for many Californians? Do you think that you may be one of them? Well, now you are able to go to the California State Controller and search by your name to see if in fact there is money waiting for you.
On October 18, 2007 the Federal Court of California lifted an injunction because of reforms that provided for the Controller’s Office to adequately notify that unless claimed, lost property will be transferred to the State for safe keeping. Because of the injunction being lifted, the State was able to send out over 99,000 notices to people who have property being held by the State of California.
John Chiang, State Controller, reassures that he is putting Californians first and there is more work to be done. He has sponsored a reform in legislation to restore interest paid on claims and impose strict penalties on those who fail to comply with the law and notify their customers of unclaimed property that they (the business) are holding.
Further, Mr. Chiang is working to restore the public’s confidence that their lost property will be safe guarded by the State until Californians claim what is rightfully there.
So how does one go about finding out if there is in fact money or property that belongs to them? All the person needs to do is check with the California Controller’s website at www.sco.ca.gov and under popular links, click on “search for unclaimed property”. From there you will be directed to a letter by Mr. Chiang about his efforts to help Californians regain their unclaimed property. On the right side of the web page, you will see “start your search for unclaimed property”. Click on that and you will be directed to another page where you will fill out basic information, such as your name. The system will search that name and if there are any matches will notify you. If you discover that you are entitled to unclaimed property you will click on the name and then be directed on how you can claim your property.
The website also boasts a large FAQ page to answer any questions you may have including funds from one descendant to another.
Mr. Chiang recommends that if you do not find your name, not to give up as they are constantly updating their systems as new unclaimed property arrives. With just a few quick keystrokes, you can find out if California owes you anything that you may have forgotten about.
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