Monday, July 4, 2011

Do you or a family member have unclaimed money in California?

Unclaimed Property is generally defined as any financial asset that has been left inactive by the owner for a period of time specified in the law, generally three (3) years. The California Unclaimed Property Law does NOT include real estate. Unused gift certificates are also generally excluded from unclaimed property and are not sent to the State as unclaimed property. 

The most common types of Unclaimed Property are:

  • Deposits for utilities
  • Bank accounts and safe deposit box contents
  • Stocks, mutual funds, bonds, and dividends
  • Uncashed cashier’s checks and money orders
  • Certificates of deposit
  • Matured or terminated insurance policies
  • Estates
  • Mineral interests and royalty payments
  • Trust funds and escrow accounts
Remember this can apply to anyone you know.  Do you really know what your parents may have done before you were born.  Or what they did when they were single.  It doesn't hurt to check, you might find money for a family member.  Good Luck!

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