Escheat in California

Sources

Cal. Civ. Proc. Code ?? 1500, 1513, 1530

Recipient Office

California State Controller

Reporting

• Time Period: 3
• Due Diligence Amount: 50
• Due Diligence Dates: Not more than 365 days nor less than 180 days
• Aggregate Amount: 24.99
• Report Period: 1/1 - 12/31*
• Report Due Date: 10/31 - intial report, no funds; 6/15 - final report with funds
• Negative Reporting: Not required, but recommended to do so, or if the State Controller's Office requests it.

Dormancy Fee

A holder can charge for the administrative cost of sending the due diligence notice when the property has a value or $50 or greater, such charge not to exceed $2. Code of Civil Procedure 1513.5(c).

Web Site

http://www.sco.ca.gov/upd_msg.html

Cross-References

• California
• Escheat