Lost Fortunes Go Unclaimed

Billions Of Dollars In Unclaimed Money In California

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    NEWSLETTERS

    According to the California Bureau of Unclaimed Property, nearly $5 billion is up for grabs in California.

    The bureau has issued a list of thousands of names of people who have somehow lost track of their money. Billions of dollars have been turned over to the state of California and will be held until it is claimed.
    "I was really happy about it. It felt really good," said Deborah Brueggeman.

    Brueggeman of North Park claimed $20,000 when she discovered money from a deceased uncle in a California unclaimed-property account.
    "It was shares of stock," said Brueggeman.
    Every year millions of dollars are turned over to the state because it goes unclaimed.

    "The money can come from bank accounts that were never closed, it may also come from a utility payment that someone overpaid," said former state controller Kathleen Connell.

    The most common types of unclaimed property are:
    · Bank accounts and safe-deposit box contents
    · Stocks, mutual funds, bonds, and dividends
    · Uncashed cashier's checks or money orders
    · Certificates of deposit
    · Matured or terminated insurance policies
    · Estates
    · Mineral interests and royalty payments, trust funds, and escrow accounts

    To find out if any of this money belongs to you, search
     The Unclaimed Property Database.
     The National Association of Unclaimed Property Administrators.

    If you have claimed money owed by the State, Bob Hansen would like to hear from you. Please drop him a line: consumerbob@nbcuni.com.