If a bank goes under, what happens to stuff in the safe deposit boxes?

Answer by  patti (29325)

If a bank were to liquidate its assets, the contents of safe deposit boxes belong to the customers who have rented the boxes. These individuals would be notified of the situation and given a length of time to retrieve the contents. After that, the lender would likely arrange for another bank to assume the boxes and would notify the customers.

Answer by  jlwilson6 (1098)

Nothing would really happen to the safe deposit boxes. The safe deposit boxes really have nothing at all to do with a company's bankruptcy. The only thing that could happen is another bank could take ownership and the name of the bank that contained the deposit box could be changed.

Answer by  elynne (1153)

I believe the physical property would be continued to be protected by first the FDIC, until the new owners of the bank would take procession of the bank. IF there is no new owner the FDIC would contiune protction of the property until their could locate the proper owners of the safe deposit box