(Part 1 of 2)

The California’s unclaimed property program takes in approximately three hundred million dollars each year. What’s it to you? Well, if you or someone 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), a chunk of that big pile of CA forgotten funds might easily be yours!

Under the California unclaimed property (or escheat) law, lost money 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 passed along to the Department of the Treasury if the rightful owners don’t come for them within a given time period. This ‘dormancy period’ varies widely from state to state, but in CA it’s three years. These lost assets then get moved to the CA unclaimed property div, where they stay in the state’s general fund until returned to the people they truly belong to. This is where state employees who handled CA unclaimed cash were recently criticized. Seems that they have been all to happy to track down and collect the lost assets from the establishments holding them but but were less than enthusiastic about contacting the actual owners in the CA unclaimed property records.

(to be continued)

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How to Find Unclaimed Money that Might Be Yours – Associated Content
Once three years has passed, and there is no activity on the property, it’s then classified as abandoned. Once the property is considered abandoned, it’s then becomes available to the state, and they hold on to it, until it’s claimed. Most property …

State holds money for Mellencamp, Bird (WISH-TV Indianapolis)
The Indianapolis Star reports that Pacers President Bird has $80 in unclaimed cash, while rock star Mellencamp has $828. Even some government agencies have unclaimed money being held by the state. Read more at www.WISHTV.com

Some rebate checks still unclaimed – Times Daily
Getting money owed to you from the government sounds like a no-brainer, but across Alabama income tax rebate checks have been returned from faulty mailing addresses and remain uncashed. The average value of the checks is $1,183. The Internal Revenue …

Indiana holding money for Mellencamp, and other unclaimed money – Fox 19
INDIANAPOLIS (AP) – Indiana is holding about $385 million in its unclaimed property fund, some of which belongs to well-known Hoosiers like John Mellencamp and Larry Bird. The Indianapolis Star reports that Pacers President Bird has $80 in unclaimed …