The Office of the County Treasurer has the following four types of unclaimed funds:
1. Deceased Estates Held in Trust:
Under Probate Code 11850, monies are held for one year then, if not claimed, are escheated to the State. This is a semi-annual process. Under Probate Code 7663, monies are held for three years then, if not claimed, are escheated to the County through the County Unclaimed Funds process (found below in item 4).
Monies received primarily from public storage companies for the sale of abandoned property, or from hospitals for abandoned property, as required by Business and Professions Code, Division 8, Chapter 10, Self-Service Storage Facilities and monies received from an abandoned mobilehome in a mobilehome park as required by California Civil Code Section 798.61(F). Funds are escheated to the County through the (#4) County Unclaimed Funds process.
Monies received from commercial landlords from the sale of abandoned property within 30 days of the sale, as required by Civil Code Section 1993. Funds must be claimed within one year from the date of payment to the County. Funds are escheated to the County through item (#4) County Unclaimed Funds process.
Annually, the County Treasurer receives a listing of monies which have remained unclaimed for over three years from each County Department and Agency. The Treasurer, pursuant to Government Code section 50050-50057 provides that unclaimed monies which remain in the treasury or in the official custody of the officers of a local agency for a period of over three (3) years, become the property of the agency. Individual items $15.00 or more in value must be published as notification that the money will become the property of the County on a designated date if it is left unclaimed.
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