Is unclaimed property recovery legit? How to spot a scam

Updated November 8, 2026

Recovery services are legal in California, and the law sets firm limits on them. Those limits are the easiest way to tell a lawful service from a scam.

What California law requires of a recovery service

• A fee of no more than 10% of the property recovered (Code of Civil Procedure section 1582).
• No fee until the Controller pays. Any request for money up front is a red flag.
• A written agreement that states the nature and value of the property and that the Controller holds it, signed after you receive that information.
• Only after the money reaches the state. An agreement for property still held by the original holder is not allowed.

Red flags

• A "processing," "filing" or "release" fee paid before anything is recovered.
• A fee above 10% for California property.
• Seals, badges or names designed to look like a public office.
• Pressure to sign today, or threats that the money will be lost.
• Requests for your Social Security number, bank login or card number by phone or text.
• No written list of the properties and amounts.

How the money should flow

In California, when an investigator files under an agreement, the Controller mails the owner's share to the owner and the investigator's percentage to the investigator by separate warrants. A service that asks you to send the whole payment to it first is not following that path.

How RecoverOwed works

10% of what the state pays, charged only after payment, paid by the Controller's separate warrant. Each property, its value and its holder are listed in the agreement before you sign. We never ask for a Social Security or card number by phone.