State holds $7.1B in unclaimed property

August 16, 2017

 

Assemblyman Health Flora, right, presents a ceremonial check to Paul Rodrigues and Jessica Vaughan of the Second Harvest Food Bank in Manteca.

California is in possession of $7.1 billion in unclaimed property belonging to an estimated 27.9 million individuals and organizations.

According to Republican Assemblyman Heath Flora’s office, the Unclaimed Property Law gives individuals the ability to reclaim money that belongs to them, and at no charge.

Recently, Flora presented Jessica Vaughan and Paul Rodrigues of the Second Harvest Food Bank in Manteca with a ceremonial check for $10,000 in unclaimed funds that have been held in trust by the State Controller for several years.

“The folks at Second Harvest thought that the original unclaimed property notice from the State Controller was a scam,” Flora said in a statement. “My Assembly office found the unclaimed property in the State Controller’s database and notified Second Harvest of a potential claim.”

Second Harvest Food Bank serves 35,000 people a month, according to Flora’s office.

Unclaimed property is reported and delivered to the Controller’s Office after financial institutions, insurance companies and other such businesses are not able to contact recipients after three years of attempts.

The Unclaimed Property database can be searched online at claimit.ca.gov, or the office can be called at (800) 992-4647.

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