California Unclaimed Property: How to Search and Claim Yours

California’s State Controller’s Office holds more than $15 billion in money and property that banks, insurers and businesses couldn’t return to their owners [6]. It’s kept in the owner’s name, there’s no deadline to ask for it, and claiming it yourself costs nothing [2][3].

What counts as unclaimed property

The Controller describes unclaimed property as a financial asset left inactive by its owner, usually for three years [1]. The most common types are [1]:

• Bank accounts and certificates of deposit
• Safe deposit box contents
• Stocks, mutual funds, bonds and dividends
• Uncashed cashier’s checks and money orders
• Matured or ended insurance policies
• Estates, trust funds and escrow accounts
• Mineral interests and royalty payments
• Utility deposits

Real estate isn’t covered [1].

How property reaches the state

California’s Unclaimed Property Law has been on the books since 1959 [3]. Businesses must try to reach you before they turn anything over [1]:

If you get that warning letter, contact the business by the date shown. That’s the easiest way to keep the property from moving to the state [2]. The letter won’t show the exact dollar amount; the Controller keeps it private until the property is turned over [2].

The waiting time, called the dormancy period , is set by the Code of Civil Procedure [5]:

How to search claimit.ca.gov

1. Go to claimit.ca.gov. That’s the Controller’s free search [3].
2. Search by name and last known city. Search your own name, past names, relatives’ names and any business you’ve owned [4].
3. Search again later. The online database doesn’t hold every account at once. New reports arrive all year and are added over time [4].
4. Can’t find something you were told about? Call the Unclaimed Property Division at (800) 992-4647 [2].

You can’t print a blank claim form. Claims start online from your search results [2].

How to file a claim

Pick the items that are yours and complete the online claim. The Controller then tells you what proof it needs [2]. Its claiming guide lists three basics for every claim [4]:

• The claim form
• A copy of your driver’s license, DMV ID card or passport
• Proof of your Social Security number or federal tax ID number

Then add proof that ties you to the account. That might be a bank statement or passbook, an insurance policy, a stock certificate, or proof you lived at the address the business reported [4]. Some items need originals. For an uncashed money order, cashier’s check or traveler’s check, you’ll be asked to send the original. Keep copies [2][4].

A few other rules [2]:

• Name changes: send proof, such as a marriage certificate or court papers.
• Joint accounts: each owner signs the claim or files their own to get their share.
• Power of attorney: generally not accepted in place of your signature. Exceptions are considered only when a medical condition keeps you from signing.

Businesses can claim too. The guide asks for papers such as proof the company is in good standing with the Secretary of State and its tax return, plus merger or dissolution records if the company changed [4].

Mail paper documents to State Controller's Office, Unclaimed Property Division, P.O. Box 942850, Sacramento, CA 94250-5873 [3]. You’ll get a claim receipt letter when the Controller has your claim, and you can check its status online [2][3].

How long it takes

The law gives the Controller 180 days from the date it receives a complete claim to decide. If it denies a claim in whole or in part, it must tell you in writing [5].

In practice [2][3]:

• Owner claims for cash only: as little as 30 to 60 days.
• Claims by heirs, by several owners, by businesses, or for large amounts or securities: generally within 180 days.

Payment comes as a state check, called a warrant , mailed to your claim address. The Controller can’t deposit it into a bank account [2].

No interest, and stock may be sold

State law doesn’t allow interest on unclaimed property claims [5]. Stock is transferred into the state’s name, and the Controller must sell it 18 to 20 months after the business’s reporting deadline [2]. If yours was already sold, you get the sale proceeds, not the shares [2][4]. Safe deposit box items that seem to have value are sold, and the proceeds are held for the owner [4].

The Controller doesn’t withhold taxes from payments. Ask a tax advisor about your own situation [2].

Claiming for a relative who died

An heir, a trustee or the estate’s personal representative can claim property for someone who has died [2]. Start with the owner’s death certificate. Then the Controller’s guide asks for one of these [4]:

• Certified letters appointing the executor or administrator, dated within 6 months
• The court order distributing the estate, or the final decree of distribution
• For a small estate that didn’t go through probate, a copy of the will or trust and a signed declaration under Probate Code section 13101
• A Table of Heirship form
• A community property order or a trustee’s certificate

Every heir who wants a share must sign the claim or file a separate one [2]. If there are three or more owners on an account, all of them must sign [4]. Each estate is different, and the small-estate dollar limit changes over time. Check the current limit with the Controller before you file.

Investigators and fees

You never need help to claim. Owners and heirs can claim directly, free of charge [3]. Some people hire an investigator . California law sets limits [2][5]:

• The fee can’t be more than 10% of the property recovered.
• No contracts before the transfer. An agreement signed after the business reports the property but before it reaches the state isn’t valid. Until then, you can get your money from the business itself for free.
• No upfront fees. An agreement is invalid if you must pay before the Controller approves and pays your claim.
• It must be in writing, disclose the type and value of the property, say the Controller holds it and where you can claim it directly, and be signed by you after that disclosure.

One exception: there’s no fee limit for investigators on claims tied to county probated estates [2].

If you sign with an investigator and then file yourself, the contract may still require you to pay them [2].