California has nearly a billion in unclaimed cash

money bagThe state of California is sitting on nearly $770 million in unclaimed cash belonging to Californians, and State Controller Betty Yee wants to return it to its rightful owners.

Yee says the state is sitting on nearly $770 million and urges people to check for unclaimed property by searching the state’s new, easier-to-use database at www.claimit.ca.gov, or by calling 800-992-4647.

“People should check today and see if the State Controller’s Office has their forgotten bank accounts, uncashed checks, insurance policy proceeds, stocks, safe deposit boxes, or more,” said Yee in a statement

The state is safeguarding 48.1 million properties, according to Yee’s office. In the 2017-18 fiscal year, property owners received about $309 million over the span of 580,000 claims with average payouts being $534. …

This article was originally published by the San Francisco Chronicle