(a) All tangible personal property located in this state and, subject to Section 1510, all intangible personal property, except property of the classes mentioned in Sections 1511, 1513, 1514, 1515, 1515.5, 1516, 1516.5, 1517, 1518, 1518.5, 1519, and 1521, including any income or increment thereon and deducting any lawful charges, that is held or owing in the ordinary course of the holder's business and has remained unclaimed by the owner for more than three years after it became payable or distributable escheats to this state.
§ 1520.Personal Property Held and Owing In Ordinary Course of Holder's Business
Title 10. Unclaimed Property · Chapter 7. Unclaimed Property Law · Article 2. Escheat of Unclaimed Personal Property · Last amended 2026 · Last verified July 29, 2026
In one sentenceSection 1520 is the catch-all provision, escheating any personal property held or owing in the ordinary course of a holder's business that is not already covered by the specific sections for deposits, insurance, dividends, digital assets, or the other listed categories, once it has gone unclaimed for more than three years after becoming payable, subject to notice requirements.
Full Text of § 1520
(b) Except as provided in subdivision (a) of Section 1513.5, subdivision (b) of Section 1514, subdivision (d) of Section 1516, and subdivisions (b) and (c) of Section 1516.5, if the holder has in its records an address for the apparent owner of property valued at fifty dollars ($50) or more, which the holder's records do not disclose to be inaccurate, the holder shall make reasonable efforts to notify the owner by mail or, if the owner has consented to electronic notice, electronically, that the owner's property will escheat to the state pursuant to this chapter. The notice shall be mailed not less than 6 nor more than 12 months before the time when the owner's property held by the business becomes reportable to the Controller in accordance with this chapter. The face of the notice shall contain a heading at the top that reads as follows: "THE STATE OF CALIFORNIA REQUIRES US TO NOTIFY YOU THAT YOUR UNCLAIMED PROPERTY MAY BE TRANSFERRED TO THE STATE IF YOU DO NOT CONTACT US," or substantially similar language. The notice required by this subdivision shall specify the time when the property will escheat and the effects of escheat, including the need to file a claim in order for the owner's property to be returned to the owner. The notice required by this section shall, in boldface type or in a font a minimum of two points larger than the rest of the notice, exclusive of the heading, (1) specify that since the date of last activity, or for the last two years, there has been no owner activity on the deposit, account, shares, or other interest; (2) identify the deposit, account, shares, or other interest by number or identifier, which need not exceed four digits; (3) indicate that the deposit, account, shares, or other interest is in danger of escheating to the state; and (4) specify that the Unclaimed Property Law requires holders to transfer funds of a deposit, account, shares, or other interest if it has been inactive for three years. It shall also include a form, as prescribed by the Controller, by which the owner may confirm the owner's current address. If that form is filled out, signed by the owner, and returned to the holder, it shall be deemed that the account, or other device in which the owner's property is being held, remains currently active and recommences the escheat period. In lieu of returning the form, the holder may provide a telephone number or other electronic means to enable the owner to contact the holder. With that contact, as evidenced by a memorandum or other record on file with the holder, the account or other device in which the owner's property is being held shall be deemed to remain currently active and shall recommence the escheat period. The holder may impose a service charge on the deposit, account, shares, or other interest for this notice in an amount not to exceed the administrative cost of mailing or electronically sending the notice and form, and in no case to exceed two dollars ($2).
(c) In addition to the notice required pursuant to subdivision (b), the holder may give additional notice as described in subdivision (b) at any time between the date of last activity by, or communication with, the owner and the date the holder transfers the property to the Controller.
(d) For purposes of this section, "lawful charges" means charges that are specifically authorized by statute, other than the Unclaimed Property Law, or by a valid, enforceable contract.
Plain-English Summary
No list of specific property categories can cover every kind of unclaimed property a business might hold, so Section 1520 sweeps in everything the more specific sections do not already reach. All tangible personal property located in California and, subject to Section 1510, all intangible personal property, other than the classes of property Sections 1511, 1513, 1514, 1515, 1515.5, 1516, 1516.5, 1517, 1518, 1518.5, 1519, and 1521 already cover, escheats if it remains unclaimed by the owner for more than three years after it became payable or distributable, after deducting any lawful charges.
Because this section applies to whatever business relationship happens to produce unclaimed property, the Legislature built in the same kind of owner-facing notice this chapter requires elsewhere. If the holder has an address on file for property worth fifty dollars or more that does not appear inaccurate, it must send notice, six to twelve months before the property becomes reportable, using the same warning heading and boldface disclosures this batch's other notice provisions require, along with a form or contact method the owner can use to keep the property active. The section defines “lawful charges” narrowly, limiting deductions to those specifically authorized by a statute other than this chapter or by an enforceable contract, so a holder cannot invent a new fee just because the property is about to escheat.
Frequently Asked Questions
What kind of property does Section 1520 cover that the more specific sections do not?
Any tangible or intangible personal property held or owing in the ordinary course of the holder's business that does not already fall under the specific categories named in Sections 1511 through 1521.
How long can this catch-all category of property go unclaimed before it escheats?
More than three years after it became payable or distributable.
Does the holder have to notify the owner before this kind of property escheats?
Yes, if the property is worth fifty dollars or more and the holder has an address on file that does not appear inaccurate, notice must go out six to twelve months before the property becomes reportable.
What counts as a “lawful charge” that can be deducted before escheat?
Only a charge specifically authorized by a statute other than this chapter, or by a valid, enforceable contract, not a fee the holder invents because the property is about to escheat.
Amendment History
Amended by Stats 2025 ch 660 (SB 822),s 4, eff. 1/1/2026. Added by Stats 2021 ch 514 (AB 293),s 7, eff. 1/1/2022.
Source & verification. Section text is reproduced verbatim from
the Deering's California Codes Annotated / vLex. Enacted by the California Legislature.
Last verified July 29, 2026.
· Official source
Also known as: catch all unclaimed property statute californiaordinary course of business escheat three years