Over $5 billion California Unclaimed Money
Seeing as to how large the Golden State is and the large number of celebrities and busy high rollers doing business there, it’s actually not surprising that the California unclaimed money pile comes second to New York’s whopping $8 billion. What’s puzzling is the number of famous people owed cash from state unclaimed property. It’s not as if these people are difficult for the Unclaimed Property Division to locate. I mean who would have trouble trying to contact the whereabouts of ‘Brangelina’ (yes, both of them), Victoria (Posh Spice) Beckham, Keanu Reeves, J-Lo, Adam Sandler and other world-famous stars? Even State council board members are coming-up on the list of State unclaimed property. Southwestern College President Raj Chopra, county Supervisor Greg Cox, administrator of Scripps Mercy Hospital Chula Vista Pete Mabrey, Imperial Beach Councilman Fred McLean, Coronado Councilman Al Ovrom, and several other State public figures are apparently owed CA unclaimed funds form lost assets, according to a report in the San Diego Union Tribune.
New state laws have since been adopted replacing the ones that kept the California Unclaimed Property Division to aggressively locate and contact citizens owed unclaimed money in California. The amount reunited to owners after the new laws took effect at the end of 07 amounts to $284 million- a significant improvement. But a lot of people are still missing money out there. $1.2 billion are owed to Northern California residents and a whopping $300,000 to a Sacramento non-profit organization. The Golden State currently leads the country in the highest amount of unclaimed tax refunds at $40 million belonging to 500,000 Californians unfiled.
Everyone should take the initiative and do an unclaimed money search. Who knows? With the holidays coming, everyone needs extra cash for presents and extras. It’s not just in the Golden State either- all 50 states have significant amount of cash belonging to its residents who have lost track of their assets. Check-out this rss feed for other State unclaimed property articles from an unclaimed money expert.
