California Wants to Return $9.3 Billion in Property and Cash Individuals Have Forgotten They Own

The State of California is once again reminding citizens — both current and former — to check in with the state to see if the Controller’s office has any unclaimed property or money that they have forgotten they owned.

California wants to give these assets back to those owners who have lost track of them, according to ABC Los Angeles.

Each year, the State Controller’s Office is given custody of property, stocks, bank accounts, and items stored in safe deposit boxes that owners have forgotten. People often lose track of these properties when they move or close bank accounts without fully emptying them. In other cases, the belongings fall between the cracks when someone dies, and family members are unaware of their existence.

For this Valentine’s Day holiday, State Controller Betty T. Yee is again reminding Californians to contact her office to see if they own any of the estimated 48 million unclaimed properties that are due them.

“Whether you’re dreaming of flowers, chocolate, or homemade crafts this Valentine’s Day, one very sweet treat is money you didn’t know you had. You also could play Cupid and help reunite loved ones with their lost or forgotten cash and heirlooms,” Controller Yee said in a statement.

These properties can be reclaimed at any time, granted. In January, Yee reported that 28,000 people reclaimed more than $25 million in forgotten properties.

California is not the only state with this issue. In fact, every single state has unclaimed property that authorities would like to return to deserving citizens. In Illinois, for instance, the state treasurer’s office has $2.9 billion in unclaimed property it hopes to reunite with owners. New York’s state comptroller’s office has a whopping $15 billion in unclaimed property it would like to return.

Californians can find out if some of $9.3 billion in unclaimed property is theirs by submitting a claim at claimit.ca.gov or by calling (800) 992-4647.

Other citizens should contact their state treasurer’s office, state comptroller’s office, or another office that has purview over unclaimed properties.

Follow Warner Todd Huston on Twitter @warnerthuston.