You or someone you know may have unclaimed property. 

The California State Controller’s Office (SCO) defines unclaimed property as “any financial asset left inactive by its owner for a period of time, typically three years. California unclaimed property law does not include real estate.”

The SCO lists the most common types of unclaimed property as:

• Bank accounts and safe deposit box contents

• Stocks, mutual funds, bonds and dividends

• Uncashed cashier’s checks and money orders

• Certificates of deposit

• Matured or terminated insurance policies

• Estates

• Mineral interests and royalty payments

• Trust funds and escrow accounts

• Utility account deposits

To learn more about how the state of California tracks unclaimed property, click here. 

To check if you have unclaimed property, click here. Fill out your information and hit “Search Properties.” If you have any unclaimed property, you may file an appropriate claim. It may take up to 180 days to receive your funds, depending on the claim. 

The Unclaimed Property Program states: “After (SCO) receives all required documentation, simple cash claims may be processed within 30 to 60 days.  More complex claims involving high-dollar cash properties, securities, or claims filed by heirs are generally processed within 180 days.”

According to a Google spreadsheet containing information on Chapman University’s unclaimed property, Chapman has over $20,000 in unclaimed property in the form of refunds, cashier’s checks, royalties and more, as of May 21. Some of the companies that owe Chapman compensation include Coca-Cola Refreshments, Cengage Learning Inc. and Wells Fargo Bank. 

Chapman Vice President for Finance and Controller Brian Thomason told The Panther that Chapman is aware of its unclaimed property. 

“Someone in my division is responsible for monitoring the website, and the State Controller’s Office also notifies us when funds are remitted to them on our behalf,” Thomason said. “We then file the appropriate claim, and the State eventually sends us the funds.”

Thomason notes that claiming property is “a lengthy process.”

“It is months from start to finish, and each claim has to be filed individually, so it can be rather time-consuming,” he said.

So, what does Chapman plan on doing with the funds received from its unclaimed property?

“Depending on the nature of the funding, the funds may be used to support academic departments, student scholarships or to meet other university needs,” Thomason said.