California has a $9.3 billion ‘pot of gold’ in abandoned funds that might have your name on it
–All you need is a computer or a smartphone to see if any of the 48 million properties worth a total of $9.3 billion have your name on them. Just type in your name and search for lost or forgotten funds at the end of the rainbow at claimit.ca.gov.
“Finding money or property that you may have forgotten is easier than spying a four-leaf clover,” said California State Controller Betty T. Yee. “There’s no time like the present to see if there is any ‘green’ waiting for you at claimit.ca.gov.”
In February, more than 33,000 people received their properties worth about $23.5 million. Here is a snapshot of the unclaimed property claims paid last month to people in the following 10 cities:
- 874 properties valued at $1,057,980 in San Francisco
- 267 properties valued at $488,485 in Santa Ana
- 215 properties valued at $127,129 in Pasadena
- 599 properties valued at $113,677 in Fresno
- 271 properties valued at $102,110 in Santa Rosa
- 126 properties valued at $73,225 in Oxnard
- 234 properties valued at $64,464 in Stockton
- 99 properties valued at $58,661 in Fairfield
- 141 properties valued at $44,161 in Chula Vista
- 97 properties valued at $16,262 in Visalia
People who find property on the State Controller’s website may submit claims at claimit.ca.gov or by calling (800) 992-4647. Anyone can download the unclaimed property database for free and see if people in their community or organization also have items safeguarded by the state.
California’s unclaimed property law protects consumers by requiring banks, insurance companies, and other businesses to transfer property to the State Controller after a period of no activity (generally three years). Savings or checking accounts, insurance benefits, uncashed checks, wages, stocks, bonds, and safe deposit box contents are common types of unclaimed property.
As the chief fiscal officer of California, Controller Yee is responsible for accountability and disbursement of the state’s financial resources. The Controller has independent auditing authority over government agencies that spend state funds. She is a member of numerous financing authorities, and fiscal and financial oversight entities including the Franchise Tax Board. She also serves on the boards for the nation’s two largest public pension funds. Elected in 2014 and reelected in 2018, Controller Yee is the tenth woman elected to a statewide office in California’s history.