Making the most of unclaimed property in California will require you to determine the holder of the property. Cities and counties may serve as custodians of unclaimed property until certain criteria are met. At that time, custodianship of the property is then turned over to the state. This allows claimants to search for their property in a central location.

CA state unclaimed property can be an inexpensive way to obtain business equipment as companies frequently lose property through misfortune or carelessness. The appropriate agency will require specific forms and procedures in order to approve your claim on the property. Unclaimed property generally falls into one of the following categories:

1. Liquid assets such as uncashed checks, a bank account or the contents of a safe deposit box.
2. California abandoned property that the original owner is unlikely to claim. This is commonly a wrecked vehicle or real estate with delinquent taxes, but may also include a treasure trove. Property owners usually have a superior claim to a treasure trove than a trespasser who discovers the property.
3. California state unclaimed property that is confiscated by law enforcement. This is frequently the result of a drug or tax seizure.
   

Action Steps
The best contacts and resources to help you get it done

Find agencies that handle state of California unclaimed property

Start at the state level if you are looking for property that belongs to a specific person and work down.

I recommend: The California State Controller's Office allows you to search for unclaimed property in California by name and city. The Sacramento County Finance Department retains possession of unclaimed property for one year before turning it over to the State Controller.

Learn more about the laws regarding California unclaimed properties

Each state has laws regarding the disposition of unclaimed property. These laws should specify the conditions that allow the state to assume custodianship of the property and any conditions that allow the property to revert to the state.

I recommend: The Treasurer for Nevada County has the complete text for Title 10 Chapter 7 which covers unclaimed property law in California. Blakeley & Blakeley provides an analysis of the Uniform Disposition of Unclaimed Property Act.

Buy a vehicle in a CA unclaimed property auction

Look at the various auctions that occur regularly throughout California if you are interested in bidding on a car. Vehicles are typically the mainstays of unclaimed property auctions and consist of abandoned vehicles, vehicles seized by law enforcement and surplus vehicles.

I recommend: The Redding Police Department periodically releases unclaimed property for auction. The City of Torrance turns unclaimed vehicles over for auction when they are no longer needed as evidence.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  The process of turning over unclaimed property in California to the state is called escheatment and legal documents may therefore refer to the property as escheat. Businesses usually encounter escheat in the form of an unclaimed pay check and are generally required to make a good faith effort to find the owner.

A court may classify California state unclaimed property as abandoned, lost or mislaid. These classifications have their origins in common law and can be difficult to interpret under modern legal systems. Legal documents may refer to the common law doctrine that ensures property is not left ownerless as escheat. California property owners usually have a superior claim to escheat than a trespasser who discovers the property.

There are specific forms and procedures to follow when claiming unclaimed property in California. Generally, the state serves as the custodian for unclaimed property until the appropriate agencies approve the finder’s claim on the abandoned property. California companies frequently lose property through misfortune or carelessness. Abandoned property in California can be an inexpensive way to obtain business equipment.

There are general types of California abandoned property:

1. Liquid assets such as a dormant bank account, safe deposit contents, unclaimed deposits or refunds, uncashed checks and unused insurance benefits;

2. Abandoned property the original owner is unlikely to return to claim. Certain property such as wrecked cars, ships or aircraft may belong to the state;

3. Property confiscated by law enforcement or repossessed by a loan company. These items are frequently auctioned off to the public.

Action Steps
The best contacts and resources to help you get it done

Find agencies that handle state of California unclaimed property

Beware of sites that charge you a fee to help you find California unclaimed money. This information should be available from your state government at no charge.

I recommend: Sign up to use the National Unclaimed Property Database for free. It offers a search of both federal and state agencies. The California State Controller keeps a database of unclaimed property that is searchable by name, business name or property ID.

Participate in a CA state unclaimed property auction

Most states have their own auctions to allow prospective buyers to bid on unclaimed or otherwise abandoned property.

I recommend: Bid4assets.com offers auctions on a variety of property that has been seized or forfeited to the U.S. Marshal’s Service. Policeauctions.com has auctions on a range of seized property and offers free sign-up.

Search for California unclaimed properties in your city

Some communities in California have a department that attempts to reunite unclaimed property with its owner. This department can answer specific questions regarding lost or abandoned property.

I recommend: The City Clerk of Hermosa Beach maintains a list of unclaimed checks and posts notices periodically on the government website. Checks that are not claimed within three years become the property of the city. The city of Carlsbad keeps a list of checks that have not been cashed within 6 months from the date of issue.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Unclaimed property in California that the owner deliberately hides or conceals may be a treasure trove instead of mislaid property. The property must remain concealed long enough for the owner to be dead or undiscoverable. A treasure trove may belong to the finder or the property owner.

Unclaimed property in California laws and regulations are partially derived from the common law of property. They generally define unclaimed property as property which has left the original owner’s possession without directly entering the possession of another party.

California state unclaimed property laws that are relevant to a particular case depend heavily on the circumstances under which the unclaimed property is found. Unclaimed property may generally be grouped into the following categories:

1. Lost property is found in a location where the owner did not intend to leave it and is not likely to find it. The finder of CA state unclaimed property is entitled to possession against everyone but the true owner. One exception to this rule occurs when a trespasser finds lost property while on private land.
2. Mislaid property is found in a location where the owner did intend to leave it and simply forgot to pick it up. Mislaid property must be returned to the owner.
3. Abandoned property of California is found in a place where the owner intended to leave it. However, the condition of the property is such that it is unlikely that the owner intends to reclaim it. California abandoned property belongs to the finder.
   

Action Steps
The best contacts and resources to help you get it done

Study the laws that relate to owners of California unclaimed property

Laws on unclaimed property commonly determine when unclaimed property must be returned to the owner. Unclaimed property laws and regulations represent a valuable resource for owners who wish to locate their unclaimed property. The California State Controller's Office is in charge of locating unclaimed property for an individual.

I recommend: Justia provides California laws that control the state's obligation to return unclaimed property to the owner. Code Publishing describes the procedure an owner must take to locate unclaimed property being held by the city of Dublin.

Review the laws that are specific to holders of state of California unclaimed property

These laws most commonly affect financial institutions that have inactive or dormant accounts. They can also determine when the holder becomes the owner of the unclaimed property.

I recommend: The Unclaimed Property Professionals Organization provides an analysis of the laws on unclaimed property holders in California. MegaLaw.com has the text of the unclaimed property law in California that deals with holders.

Examine state of CA unclaimed property law that is specific to finders

Unclaimed property laws for finders may regulate fees that the finder may charge the owner for delivering, locating or recovering the unclaimed property. These laws may also determine when found property reverts to the finder.

I recommend: The California State Controller's Office provides information on the laws regarding finders of unclaimed property in California. LexisNexis provides the specific laws for unclaimed property finders in Contra Costa County.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  The Uniform Unclaimed Property Act is a key piece of federal legislation that affects unclaimed property of California. The Act seeks to address the problems of unclaimed property that arise from its origins in English common law. The National Conference of Commissioners on Uniform State Laws first drafted the Uniform Unclaimed Property Act in 1981 and last revised it in 1995.