California has over $ 10 billion in lost money. Some May Be Yours – NBC 7 San Diego



California State Comptroller holds over $ 10 billion in unclaimed property, which is why people are encouraged to check the online database to see if they have lost money or other Valuable objects.

“These are uncashed paychecks, inactive bank accounts, insurance benefits, the contents of a safe,” said Jennifer Hanson, press secretary in the state comptroller’s office. “Maybe your grandmother bought treasury bills in your name that you never heard of and they sat there for years. We’ll have them sitting there waiting for you to claim them.”

When a business has money that belongs to you but has not heard from you for years, that money is reported to the state through a process known as escheat. Hanson said they now have 57 million unclaimed properties.

“One in three Californians who visit the site have a claim to property,” said Hanson. “We just need to prove identity and ownership.”

It is not always a major boon. Sometimes the properties are very small, but it’s always worth checking out.

“I have one pending that will cost less than $ 25,” said Hanson, “but then we had people who found out they had hundreds of thousands of dollars.”

Of the 57 million lost properties held by the State Comptroller, more than 2.3 million of them have San Diego addresses on their records. Hanson said people should check the database and verify it on behalf of their loved ones while they do it.

“In many cases, you can file online without any additional work,” Hanson said.

There are people who make a living by searching through these databases and contacting people who have large sums of lost property. They often say they can file for you in exchange for a fee. Hanson said it’s completely legal for them to do this, but you can also do it yourself.

“If you get a call like this, you should contact the State Comptroller’s office directly,” Hanson said. “We’re happy to help you find this property, tell you how to file a claim, and we’ll never charge a fee. One hundred percent of your property will come back to you.”

Hanson said if you search the database, try common spelling mistakes in your name. If someone got it wrong, that could be the reason it ended up in the State Comptroller’s office. Then compare it and see if it’s linked to an address you lived at to see if it could be your lost money.

In addition to searching the State Comptroller’s Office database, you can also view the county’s list of unclaimed money. It’s a different process and system from escheat, but you have until December 17th to see if your name shows up. After that, the money will be sent to the county general fund.


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