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California Is Holding $770M In Unclaimed Cash, And Some Of It Could Be Yours

SACRAMENTO (CBSLA) – The State Controller's Office is safeguarding nearly $770 million in unclaimed cash belonging to Californians and is urging residents to come forward to retrieve it.

The unclaimed property includes forgotten bank accounts, uncashed checks, insurance policy proceeds, stocks and content in safe deposit boxes, according to Controller Betty Yee.

"A search of the unclaimed property database only takes a couple minutes and this is a great time to do it because more properties transfer from banks, businesses, employers, and life insurance companies each summer," Yee said Tuesday.

Those who believe they have unclaimed property can visit the state's database for free and fill out a secure form online. Name, social security number, birthdate and address are needed to file a claim. Some items, such as safe deposit box contents and cashier's checks, may need additional proof of ownership.

Potential owners can search on the Controller's database or call 800-992-4647.

There is no time limit or cost for submitting a claim directly to the State Controller's Office.

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