In areas represented by state Sen. Henry Stern (D-Calabasas), about $751 million in property— mostly money in bank accounts, uncashed cashier’s checks and stocks—is waiting to be claimed from the State Controller’s office.
California’s Unclaimed Property Law safeguards lost and abandoned property until it can be reunited with the rightful owner or heirs, officials say.
Sometimes, the owner forgets the account exists, moves and leaves no forwarding address, or the forwarding order expires.
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