Yee v. American National Insurance Co.

Opinion

BUTZ, J.

Consistent with unclaimed property laws nationwide that derive from a uniform act on the subject, California’s Unclaimed Property Law (the UPL; Code Civ. Proc., § 1500 et seq.)1 is remedial legislation with a dual objective. That dual objective is to end the fortuitous enrichment of holders of unclaimed property and to return such property to its rightful owner or, if that is not possible, to the state (i.e., escheat) for public benefit rather than for private gain. (See 13 Witkin, Summary of Cal. Law (10th ed. 2005) Personal Property, §§ 36-38, pp. 44-46; Goldstein v. PHH…