(Part 1 of 2)

The California’s unclaimed funds program takes in about 300 million dollars each year. Why should you care? Well, if you or someone you know is or ever was a resident of the Golden State (or ever had any type of business dealings, whether you knew it or not), some of that big pile of CA lost assets might very well belong to you!

Under the state of California unclaimed property law, abandoned assets such as forgotten checking and savings accounts, uncashed checks and money orders, mineral deposits, salary checks, cash and stock dividends, state of California unclaimed tax refunds, gift certificates, and other assets are passed along to the Department of the Treasury if their owners don’t come for them within a given time period. This ‘dormancy period’ varies from state to state, but in CA it’s three years. These abandoned assets then get moved to the California unclaimed property div, where they stay in the state’s general fund until they’re returned to their rightful owners. This is where officials working for the state who handled CA unclaimed cash were criticized recently. It appears that they were all to happy to locate and collect the lost funds from the establishments holding them but showed less interest in contacting the actual owners in the CA unclaimed property database.

(to be continued)

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Unclaimed property auction – WEAU-TV 13
Diamond rings, collectible stamps and coins, and gold pendants are among the unclaimed property that the state of Wisconsin will sell over E-Bay starting Monday. The Treasurer’s Office is holding an E-Bay auction of property that has been left …

2009′s top money-saving tips (Fort Worth Star-Telegram)
Minding your spending became cool in 2009 as Americans lost jobs, suffered freezes or cuts in pay, and were less able to get credit.

State Auctions Unclaimed Treasures on eBay – WBAY Green Bay
Diamond rings, collectible stamps and coins, and gold pendants are among the unclaimed property that the state of Wisconsin is selling over eBay. The auction started Monday at noon. The treasurer’s office routinely holds eBay auctions of property …