Give Yourself a Gift This Holiday Season: State Protecting $751 Million in Unclaimed Property for Local Residents
SACRAMENTO – Senator Henry Stern (D-Calabasas) is encouraging local residents to take a moment this month and see if the State Controller’s office is holding onto money in their name. In areas represented by Senator Stern, about $751 million in property – most of which is money in bank accounts, uncashed cashier’s checks and stocks – is waiting to be claimed.
“If you’re worrying about the toll the holiday season has taken on your pocketbook, leave no stone unturned. See if the state is holding an old bank account you forgot about or something else in your name, take a minute to file a claim, then use the money however you’d like,” said Senator Stern. 
California’s Unclaimed Property Law safeguards lost and abandoned property until it can be reunited with the rightful owner or heirs. Sometimes, the owner forgets the account exists, moves and leaves no forwarding address, or the forwarding order expires. In some cases, the owner dies and heirs are unaware the property exists. Unclaimed property is held indefinitely for safekeeping by the Controller’s Office.
Last month alone, the State Controller’s office returned more than $2.4 million in property to people who live in the 27th Senate District. Anyone who wants to check if the State is holding unclaimed property in their name should visit the State Controller’s website at www.claimit.ca.gov, call the Controller’s Office at (800) 992-4647 or contact Senator Stern’s office at (818) 876-3352 for assistance or more information.