Frequently Asked Questions

Unclaimed property is money or assets held by businesses or financial institutions that they've lost contact with the owner about. After a period of inactivity (usually 3 years), California law requires these entities to turn the property over to the State Controller's Office. Common examples include forgotten bank accounts, uncashed checks, insurance payouts, stock dividends, utility deposits, and payroll checks.

Over $14 billion. California has the largest unclaimed property fund of any state. An estimated 1 in 4 Californians has unclaimed property, and many people have multiple properties they don't know about.

No. California holds unclaimed property in perpetuity — there is no expiration date. Your money will be there whether you claim it today or ten years from now. However, the sooner you claim, the sooner you get paid.

The most common reasons are: you moved and didn't update your address, a company sent a check you never cashed, a bank account went dormant, an insurance company couldn't find you to pay a benefit, or a former employer had a final paycheck they couldn't deliver.

No. GVT Money is a private asset recovery company. We are registered with the California State Controller's Office as an Investigator, but we are not affiliated with any government agency. We help people navigate the claim process and handle the paperwork for a fee of 10%.

No. We understand the skepticism — many people receive scam letters about "unclaimed money." Here's how to verify us: (1) Search your name on the official State Controller website at claimit.ca.gov to confirm your property exists. (2) Verify our registration with the State Controller's Office. (3) Check that our fee complies with the 10% cap under CCP Section 1582. We are fully transparent about who we are and what we charge.

You don't have to — you can always claim for free at claimit.ca.gov or by calling (800) 992-4647. We exist because the process can be confusing, especially for claims over $1,000 that require notarization. We handle all the paperwork, forms, notarization, ID verification, and filing. Many people prefer to have someone manage it for them, especially for multiple properties or complex claims.

Our fee is 10% of the recovered property value, which is the maximum allowed by California law (CCP Section 1582). You pay nothing upfront. The State of California pays us directly as a separate check — your 90% comes straight to you. We never handle or have access to your payment.

It depends on the claim complexity. Simple claims under $5,000 typically process in 10-30 days. Claims between $5,000 and $50,000 may take 60-90 days. Very large or complex claims can take up to 180 days. We keep you updated via email at every step.

For basic claims: your name, current address, Social Security Number, and a government-issued photo ID. For claims over $1,000, you'll also need a notarized signature on the Claim Affirmation Form (we arrange this via a 5-minute video notary session). For heir/estate claims, additional documentation like a death certificate may be required.

California requires notarization of the Claim Affirmation Form for claims of $1,000 or more. We use Remote Online Notarization (RON) — you do a 5-minute video call with a licensed notary from your computer or phone. No need to visit a notary office. California accepts out-of-state RON notaries under SB 696 (effective January 1, 2024).

The State Controller's Office issues two separate checks (called warrants): one to you for 90% of the claim value, and one to us for our 10% fee. Both checks are mailed by the State. We never receive, hold, or have access to your payment. This is required by law.

Yes, but heir/estate claims require additional documentation: a death certificate, proof of your relationship (will, trust, or small estate affidavit), and potentially probate documents. These claims are more complex and may take longer to process. Contact us for a free consultation on estate claims.

Yes. Your SSN is required by the State Controller to process your claim — there's no way around it. We encrypt your SSN using bank-grade encryption (Fernet/AES-256) and it is never stored in plain text. It is only decrypted at the moment we generate your claim form, then immediately re-encrypted. We delete all PII after your claim is processed and paid.

Never. We collect your information solely to process your unclaimed property claim. We do not sell, rent, or share your personal information with third parties. We comply with the California Consumer Privacy Act (CCPA) and you can request deletion of your data at any time.

Your uploaded documents (ID, SSN proof) are stored in encrypted storage during claim processing. Once your claim is paid and closed, all personal documents are permanently deleted within 30 days. We retain only the minimum records required by law.

California Code of Civil Procedure Section 1582 governs agreements between property owners and Investigators (asset recovery companies) for unclaimed property. Key provisions: (1) Fees cannot exceed 10% of recovered value. (2) Full written disclosure is required before signing, including the SCO's address and website. (3) Agreements cannot be entered for property that hasn't yet been transferred to the State. (4) The State pays the Investigator's fee as a separate warrant.

If the State Controller denies your claim, we will work with you to address the reason for denial (usually missing documentation or identity verification issues). We do not charge any fee for denied claims. If we cannot successfully resolve the denial, you owe us nothing.