Mono County Unclaimed Funds

Mono County unclaimed money can be found through the California State Controller and the county tax collector. The state holds most unclaimed property from banks, employers, and insurance companies. Mono County also manages tax sale excess proceeds through the county tax collector. When the county sells property to collect unpaid taxes, any money left over after paying the debt goes into a trust for former owners and lien holders. You can search the state database online for free and contact the county at (760) 932-5480 for local programs. Both systems operate separately, so check both to find all unclaimed money that may belong to you.

California State Controller Database

The California State Controller holds most unclaimed money for Mono County residents. The state manages over $11 billion in lost property. Banks report accounts inactive for three years. Employers turn over uncashed paychecks after one year. Insurance companies report unclaimed proceeds. All of this property goes to the state controller.

Search the database at the controller's property search portal. Enter your name or business name to see what the state holds. The search is free. You can also search for deceased relatives if you are an heir. Results show the property type, approximate value, and the business that reported it.

When you find property, you can file a claim online in many cases. The state controller's claim page explains the process. Simple claims take 30 to 60 days. Complex claims can take up to 180 days. The state processes all claims for free. You do not need to hire a company. Asset locators may contact you and offer to help for up to 10 percent of the value. You can avoid this by filing directly.

California law sets different dormancy periods. Bank accounts become unclaimed after three years. Wages must be reported after one year. Money orders take seven years. Traveler's checks take fifteen years. These rules are in Code of Civil Procedure section 1513. Once property reaches the state, there is no time limit for claiming it.

Mono County Excess Proceeds

Mono County runs an excess proceeds program for property tax auction sales. When a property owner does not pay taxes for several years, the county can sell the property at auction. The sale pays off the tax debt, penalties, interest, and costs. If the winning bid exceeds what was owed, the extra money is held in trust. This is called excess proceeds.

The Mono County Tax Collector manages the excess proceeds program. Former owners have the first right to claim these funds. Lien holders, such as mortgage companies or contractors who had a legal claim on the property, can also file. Contact the tax collector at (760) 932-5480 to ask about current excess proceeds from tax sales.

Excess proceeds can be substantial in areas where property values are high. Mono County includes popular tourist areas like Mammoth Lakes, where property values have risen over the years. Even if you lost a property in a tax sale, you may still be able to claim excess proceeds if the sale price exceeded the tax debt.

To claim excess proceeds, you need to prove your interest in the property. Former owners need to provide proof they owned the property before the tax sale. This can include old deeds or tax bills. Lien holders need to show they had a recorded lien on the property. The county tax collector will review your claim and send payment if approved.

Note: Mono County follows Government Code sections 50050 to 50057 for other types of local unclaimed funds.

Filing a Claim

Start by searching the California State Controller's unclaimed property website. This is where most Mono County unclaimed funds are held. When you find property in your name, click on it to start a claim. The site will tell you if you can file online or need to mail a paper claim.

You need to prove you are the owner. For claims under $1,000, you may only need basic information. Claims of $1,000 or more require notarization. If you are claiming on behalf of a deceased person, you need a death certificate and proof you are the heir. Business claims require corporate documents.

Forms you may need:

• Claim Affirmation Form (generated from search results)
• Declaration Under Probate Code 13101 (for estates under $166,250)
• Table of Heirship (for heirs of deceased owners)
• Safe Deposit Box Property Release Form (if claiming box contents)

Mail paper claims to Chief, Unclaimed Property Division, P.O. Box 942850, Sacramento, CA 94250-5873. You can also visit the public counter at 10600 White Rock Road, Suite 141, Rancho Cordova, CA 95670.

For Mono County excess proceeds, contact the tax collector at (760) 932-5480 to get the correct forms.

Types of Unclaimed Property

Bank accounts are the most common unclaimed property. Checking accounts, savings accounts, and CDs become unclaimed after three years. Mono County residents may have accounts at local banks or credit unions. When a financial institution cannot reach the owner, the account is reported to the state.

Uncashed paychecks add up over time. Employers turn over wages after one year. This happens when someone moves without updating their address. Mono County's economy includes tourism, government, retail, and services. All of these generate unclaimed paychecks.

Insurance proceeds often go unclaimed. Life insurance policies pay out when the insured dies, but beneficiaries may not know the policy exists. Property and auto insurance refunds also become unclaimed.

Other common types:

• Stock dividends and mutual fund distributions
• Utility deposits from energy and phone companies
• Escrow accounts from real estate transactions
• Court deposits and legal settlements
• Safe deposit box contents

Tax refunds can also go unclaimed. The California Franchise Tax Board holds old refund checks. Call (800) 852-5711 to claim an old tax refund.

Mono County excess proceeds come from tax sales. When the county auctions a property to collect back taxes, the sale price may exceed the amount owed. The leftover money goes to the former owner or lien holders.

California Unclaimed Property Laws

The Unclaimed Property Law is in Code of Civil Procedure sections 1500 through 1582. These laws apply in Mono County and throughout California.

Holders must file an annual report with the state controller. Most businesses file by November 1. Life insurance companies file by May 1. Before turning property over to the state, holders must try to notify the owner. Under section 1530, written notice must be sent at least six months before filing.

The controller decides whether to approve claims. According to section 1540, the controller has 180 days to decide. No interest is paid on claims.

Penalties apply to holders who do not comply. Willful violations can result in misdemeanor charges under sections 1576 and 1577.

County-level unclaimed money is governed by Government Code sections 50050 through 50057.

Additional Resources

CalPERS manages retirement benefits for public employees. Call (888) 225-7377 to search for benefits.

CalSTRS holds property for teachers. Contact them at (800) 228-5453.

The California Department of Insurance provides access to the Life Insurance Policy Locator. Call (800) 927-4357.

The Employment Development Department handles unclaimed UI and DI benefits. Call (800) 300-5616 for UI or (800) 480-3287 for DI.

For unpaid wages, call (833) 526-4636.

Contact Information

For California State Controller unclaimed property, call (800) 992-4647. Outside the U.S., dial (916) 323-2827. You can also use an online form.

Mail claims to Chief, Unclaimed Property Division, P.O. Box 942850, Sacramento, CA 94250-5873. For visits or overnight mail, use 10600 White Rock Road, Suite 141, Rancho Cordova, CA 95670.

For Mono County excess proceeds, call the tax collector at (760) 932-5480.

Nearby Counties

These counties border Mono County. If you lived or worked in multiple counties, search each one.