Select your state

Government

abandoned or unclaimed property

Property is generally considered abandoned or unclaimed if the existence and location of the owner is unknown for an extended period of time—often three years. Common types of unclaimed property are bank accounts, stocks, bonds, uncashed checks, insurance benefits, wages, and safe deposit box contents. Once abandoned property is turned over to the state by a business, an individual then has the burden of reclaiming it from the state.

In California, property is deemed abandoned or unclaimed if the owner cannot be located for a period typically extending to three years. This includes various assets such as bank accounts, stocks, bonds, uncashed checks, insurance benefits, wages, and the contents of safe deposit boxes. Businesses holding these assets are required to report and surrender them to the California State Controller's Office through the Unclaimed Property Program if the owner cannot be contacted. The state then acts as the custodian of these properties. Individuals who believe they have unclaimed property can search the State Controller's database and file a claim for their property. The process is governed by the California Unclaimed Property Law (Civ. Code, § 1500 et seq.), which aims to reunite owners with their lost or forgotten assets and provides a clear framework for both holders of unclaimed property and claimants to follow.

Legal Articles

State Statutes

As a LegalFix Member You Will Be an Important Client of Local Law Firms

For about 82¢ a day you can have a LegalFix Legal Plan that includes initial consultations with an attorney at no additional charge—and additional legal services at reduced rates—all from top law firms in your state. Don't wait—be prepared for life's inevitable legal challenges, starting today.

And ask your employer, credit union, or membership group to offer LegalFix for even better pricing.

Government

abandoned or unclaimed property

As a LegalFix Member You Will Be an Important Client of Local Law Firms

Articles

California State Code

California State Code

Government

abandoned or unclaimed property

Articles