California

California has billions in unclaimed cash, and some of it could be yours

Here’s how to claim your property from the State of California

You should find out if the State of California is holding property that is yours. There are millions in cash being held.
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You should find out if the State of California is holding property that is yours. There are millions in cash being held.

There are three quarters of a billion more reasons why you should find out if the State of California is holding money that belongs to you.

California State Controller Betty Yee announced Tuesday that in the 2017-18 fiscal year, the state received $770 million in unclaimed cash for safekeeping.

With that transfer, the state now has $9.3 billion in unclaimed cash and property, according to a spokesman from Yee’s office.

“People should check today and see if the State Controller’s Office has their forgotten bank accounts, uncashed checks, insurance policy proceeds, stocks, safe deposit boxes or more,” Yee said in a statement.

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The state maintains a database at www.claimit.ca.gov where you can check for unclaimed property. You also can call 800-992-4647.

According to Yee’s office, the state is holding 48.1 million properties, and in the 2017-18 fiscal year, property owners received about $309 million over the span of 580,000 claims.

The average payout was $534.

Andrew Sheeler: 805-781-7934, @andrewsheeler
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