From Assemblymember Phil Ting
 

Claim Your Lost Property

The California State Controller's Office is holding nearly $12 billion in property that people may not realize is theirs to claim. It could be assets from a forgotten bank, stock or bond account, wages owed, insurance benefits, or contents of a closed safe deposit box. Could one of them be yours? Click here to enter your information and to see what steps you need to take for submitting a claim, if you find something under your name.

In September, 22,000 people were reconnected with their valuables, totaling $41 million. The program began in 1959 to prevent businesses from keeping property that belongs to customers they've lost track of. But the process to reclaim property can be burdensome.

The good news is starting in January, my bill, AB 1208, takes effect, making it easier for Californians to be reunited with their long-lost money or valuables. Changes include requiring less documentation for claims under $5,000 and allowing for supporting documentation to be submitted electronically for a claim in any amount.

Nearly one in three visitors to the website find property, so it may be worth a few minutes of your time to check if the state is safeguarding something for you. You can also call the Controller's Office at 1-800-992-4647, Monday through Friday from 8 a.m. to 5 p.m., except on holidays.

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PHIL TING
Assemblymember, 19th District


 
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