Unclaimed property investigators in California: the rules

Updated November 8, 2026

"Investigator" is the Controller's term for a person or company that helps owners recover property for a fee. Others say "finder" or "locator." Here is what the rules allow.

What investigators may do

• Agree with an owner, in writing, to recover property the Controller already holds.
• Charge up to 10% of the property recovered, after the Controller pays.
• Prepare the claim and file it with the Controller for the owner.
• Receive their percentage directly from the Controller, by a separate warrant.

What investigators may not do

• Take any fee before the Controller approves and pays the claim.
• Charge more than 10% for property recovered from the Controller.
• Contract for property still held by the original holder.
• Sign the claim form for the owner under a power of attorney (narrow medical exceptions aside).

Licensing and registration

The Controller does not require investigators to be licensed. It encourages them to register with its office voluntarily by sending staff lists, identification and tax ID documents. The handbook notes that registration does not produce a registration number.

Competing claims

Where claims compete for the same property, the claim received first and under contract wins, which rewards investigators who file complete packages quickly.

Agreements

The agreement must be in writing, list the property in full, and be signed after the owner has received the required disclosures. It does not need to be notarized.