Cash Unclaimed Media Room

According to the California unclaimed property Law, the unclaimed funds holders, or the financial institutions, are required to report annually to the Controller’s Office to pass on the authority of the properties that are lying dormant under them for more than three years. The main sources of California unclaimed money are inactive bank accounts and businesses that are no longer functioning as the owners have changed their addresses or are no longer alive.

The current aggregate figure of $40 billion in unclaimed money across the nation will soon be history. The experts and economists are predicting that very soon we will be staring at a $100 billion figure of unclaimed money. This means that almost 90% of all U.S. families have somebody who has failed to reclaim their lost funds or assets. Whether it be a deceased relative, or a family member, unclaimed money exists in every family across the United States.