Hundreds of county residents on state's unclaimed property list

he flag of California flies at full-staff on Saturday in Calexico. PHOTO VINCENT OSUNA

CALEXICO — According to records updated Thursday, there are hundreds of Imperial County residents who have property they can claim from the state Controller’s Office.

The state controller safeguards lost and forgotten property turned over to the state, such as bank accounts, uncashed checks and insurance benefits, until it can be claimed by the rightful owner.

The unclaimed property records may be viewed online at www.sco.ca.gov/upd_msg.html

Those interested may search by name and address. The records are divided by price range.

As mentioned on the website, the state's Unclaimed Property Law requires banks, insurance companies, corporations and certain other entities (referred to as holders) to report and submit their customers’ property to the state Controller’s Office when there has been no activity for a period of time.

This law requires these holders annually to report and deliver property to the state Controller's Office after there has been no activity on the account for a period of time specified in the law, generally three years.

Common types of unclaimed property are bank accounts, stocks, bonds, uncashed checks, insurance benefits, wages and safe deposit box contents.

Property does not include real estate, per the website.

Controller Betty Yee safeguards this lost or forgotten property as long as it takes to reunite it with the rightful owners. There is no deadline for claiming it once it is transferred over to the state Controller’s Office.

Staff Writer Vincent Osuna can be reached at vosuna@ivpressonline.com or 760-337-3442.

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