California tells residents to get their ‘pot of gold’

Californians have the opportunity to claim 48 million properties worth a combined total of $9.3 billion, according to the state controller’s office.

Unclaimed property law in California protects consumers by requiring banks, insurance companies and other businesses to transfer property to the state controller following a period of no activity, typically spanning three years. Common types of unclaimed property include savings or checking accounts, insurance benefits, uncashed checks, wages, stocks, bonds and items in safe deposit boxes.

A St. Patrick’s Day-themed news release issued by the state controller’s office says Californians do not need “the luck of the Irish” to find their unclaimed property. Owners of missing property can simply type their name into a state database at claimit.ca.gov and “search for lost or forgotten funds at the end of the rainbow.”

“Finding your money or property that you may have forgotten is easier than spying a four-leaf clover,” State Controller Betty Yee said in a statement. “There’s no time like the present to see if there is any ‘green’ waiting for you at claimit.ca.gov.”

Last month alone, more than 33,000 people received properties worth about $23.5 million, the news release states. The state paid out more than $1 million for claims of previously unclaimed property in San Francisco alone during February. 

San Francisco led all California cities with owners receiving 874 properties valued at $1.58 million. Santa Ana followed with 267 reclaimed properties valued at $488,485.

Property owners who find their funds or goods in the state controller’s database may submit a claim at claimit.ca.gov or by calling (800) 992-4647.

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