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The law then provides that the insurers have a 3 month time limit to reply in full and say if they accept responsibility for your claim (and so we will pay you damages), or whether they deny responsibility, giving reasons why. Sometimes, insurers reply much earlier than the 3 month time limit.
What is Unclaimed Property? Unclaimed Property is generally defined as any financial asset that has been left inactive by the owner for a period of time specified in the law, generally three (3) years. The California Unclaimed Property Law does NOT include real estate.
A: California state law requires insurance carriers to settle claims within 85 days after the date of filing. Other deadlines come into play when contacting claimants and completing other steps in the auto insurance claim process.
States have established processes whereby legal owners of assets can reclaim unclaimed funds. When claiming unclaimed funds that have risen in value, taxes may be assessed at the time. If you claim property, it will be treated as ordinary income and taxed accordingly unless the property is related to a tax refund.
Unclaimed Property Claims Property owner claims that only involve cash may be processed in as little as 30 to 60 days. More complex claims, such as those filed by heirs, those involving multiple owners, or those involving businesses are generally processed within the 180 day period.

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Unclaimed Property Claims Property owner claims that only involve cash may be processed in as little as 30 to 60 days. More complex claims, such as those filed by heirs, those involving multiple owners, or those involving businesses are generally processed within the 180 day period.
What Happens to California Unclaimed Money in California if No One Claims It? The state holds unclaimed funds indefinitely and continually makes efforts to locate the original owners and their heirs or surviving family members. There is no deadline for claiming unclaimed funds in California.
Dormancy Period A period of time, as defined by state law, during which property remains unclaimed. For uncashed general checks, the period is three years. For uncashed payroll checks, the period is one year. Holder Owner Any person or corporation in possession of property belonging to another.
The State Controller's Functions Account for and control disbursement of all state funds. Determine legality and accuracy of every claim against the State. Issue warrants in payment of the State's bills including lottery prizes. Administer the Uniform State Payroll System.
Please contact the Unclaimed Property Division by telephone at (916) 323-2827 for further instructions. Also, if you are filing a claim and know there are multiple owners on the account, please note that each owner/ claimant must sign the claim form and submit the required documentation.

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