
State Controller John Chiang has pledged to use a new law to aggressively track down the owners of
thousands of dollars' worth of unclaimed property seized by the state.
A federal judge in June called the state's notification process unconstitutional and ordered the controller's office to stop taking possession of any assets or property thought to be abandoned.
Even the law makers want you to find it, It could be yours thousands of dollars.
< of assets are seized by the state as lost or abandoned each year.
GET in before all stocks, bonds, cash and family heirlooms are sent to the state, start tracking down property
The state has faced growing criticism in recent years for not trying hard enough to track down the owners of unclaimed property before banks and other financial institutions turn them over to the state as unclaimed property.
That would include money left in old bank accounts, insurance refunds and stock dividends.
The California Department of Finance said the state expects gross revenue of $736 million from the unclaimed property program this fiscal year, with a net of $442 million that will go into the general fund after owners claim seized property.
State law requires the government to return the cash value of the seized property whenever the rightful owner asks for it, but few typically do that.