What are the safe deposit box laws?

Answer by  patti (29325)

The rules concerning safe deposit boxes are made clear by the bank in the rental agreement. That's the best source of information regarding the matter.

Answer by  patti (29325)

A safe deposit box is a container in which an individual may store valuable property. The individual holds one key; the bank, which rents the box, holds the other. Pursuant to privacy laws, the contents are just that: private.

Answer by  patti (29325)

Banks offer safe deposit boxes and set the policies with regard to them. Check with the specific bank for details regarding their policies.

Answer by  BadgerStatePro (29)

You have to pay the fees to keep the box. If you do not pay the fees, the bank can open the box in the presence of a notary but not without giving you proper notice. Also, they have to wait at least 30 days after notice to do this.

Answer by  JDBIII (222)

Safe Deposit Boxes can only be accessed by authorized signers to the safe box with keys or, in some areas, hand-scans. Each signer can add their own POA if needed.

Answer by  BoeZoe (136)

States may regulate laws on banks, but generally the bank's agreement with the box holder is the controlling document. Unclaimed boxes can be drilled & opened under proscribed procedures.