Real Estate/Development,
Constitutional Law
Jun. 9, 2022
Unclaimed Property Law is unconstitutional, suit says
The law allows the controller to seize private assets after the owner has not been active for a specified period of time, typically three years, and to use the funds for state obligations without paying restitution.
California’s Unclaimed Property Law is unconstitutional because it allows assets, such as bank accounts and insurance policies not claimed by rightful owners within typically three years, to be paid into the state’s general fund without justly compensating owners who try to collect later, A a proposed class action states.
“Plaintiff brings this action to challenge the constitutionality of the California Unclaimed Property Law, California C...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In