(Part 1 of 2)

The state of California’s unclaimed funds program takes in approximately three hundred million dollars each year. What’s it to you? Well, if you or anyone you know is or was a resident of the Golden State (or ever had any type of business dealings, whether you knew it or not), some of that massive pile of Cali unclaimed money might easily belong to you!

Under the state of California unclaimed property (or escheat) law, abandoned assets like forgotten savings and checking accounts, cash and stock dividends, mineral deposits, uncashed checks and money orders, state of California unclaimed tax refunds, salary checks, gift certificates, and other assets are turned over to the Treasury Department if the rightful owners don’t come for them within a given period. This ‘dormancy period’ varies widely from state to state, but in Cali it is three years. These abandoned assets then head to the CA unclaimed property division, where they stay in the state’s general fund until they’re returned to their rightful owners. This is where state officials in-charge of the Cali unclaimed cash were criticized recently. It appears that they were all to happy to track down and collect the lost funds from the establishments holding on to them but but weren’t so keen on contacting the owners in the Cali unclaimed money records.

(to be continued)

–

Kansans Find $826K In Unclaimed Money At Fair (KMBC-TV Kansas City)
The Kansas State Treasurer’s Office said that Kansans took home more than $826,000 in cash and property just by stopping by the Unclaimed Property booth at the state fair earlier in the month.

Govt sitting on $5.7m in unclaimed rent bonds – New Zealand Herald

Govt sitting on $5.7m in unclaimed rent bonds New Zealand Herald, New Zealand - Sep 8, 2008 Most bonds are refunded but the unclaimed money has accumulated because landlords and tenants have either forgotten about it or decided not to reclaim it, …

Tips for New Yorkers to locate unclaimed funds – Newsday

Tips for New Yorkers to locate unclaimed funds Newsday, NY - Sep 28, 2008 The state of New York is currently holding about $9 billion in unclaimed funds. Does some of that money belong to you? The money in the state's unclaimed … Savings on ice: How to retrieve inactive bank accounts frozen by … Newsday all 2 news articles

Unclaimed property auction to be held in R.I. (FOX Providence)
For the first time in almost a decade, the State of Rhode Island’s Unclaimed Property division will hold a public auction to benefit taxpayers.