Unclaimed property: filing of claims.

Existing law, the Unclaimed Property Law, authorizes the State Controller to administer property that has escheated to the state and sets forth procedures whereby a person may file a claim to the property or to the net proceeds from its sale. Under existing law, the Controller is required to consider each claim within 180 days after it is filed, as specified. Existing law defines an "owner" as the person who had the legal right to the property prior to the escheat, his or her heirs, his or her legal representative, or a public administrator authorized by law. This bill would clarify that only a person who claims to have been an owner, as defined, may file a claim with the Controller, and requires the Controller, within 180 days after the claim is filed, to determine if the claimant is the owner of the property claimed. The bill would revise the definition of owner to also include the estate representative and guardian or conservator, and remove the legal representative, of the person who had the legal right to the property prior to its escheat.