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#636016 - 11/08/06 09:44 PM Safe Deposit Boxes
bankgrl67 Offline
Junior Member
Joined: Apr 2006
Posts: 40
Massachusetts
Currently, if two people are renting a safe deposit box and one passes away, we have the survivor close that box and open a new one if they in fact want to keep a box at our institution. Does any one know if this is really necessary or are we just creating more work for ourselves?

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#636017 - 11/08/06 09:51 PM Re: Safe Deposit Boxes
straw Offline
Power Poster
straw
Joined: Nov 2002
Posts: 9,121
I am not familiar with Mass. state law, however, if state law allows it, you could have your boxes rented with right of survivorship so the survivor assumes sole ownership of the same box.

Again, need to see if Mass. has some law that would not allow this.

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