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#1973403 - 10/31/14 03:58 PM Safe Deposit Box Lease Termination
Bec Offline
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Bec
Joined: Jul 2010
Posts: 1,115
The Great White North
Hello all. Does a bank representative have to sign when a customer terminates their safe deposit box lease?
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#1973410 - 10/31/14 04:05 PM Re: Safe Deposit Box Lease Termination Bec
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
Safe deposit boxes are regulated by state statutes, state court decisions, and the terms of the lease; although there are some best practices, there are no universal answers.

It seems unlikely that your first two resources would address this issue, but no one could guarantee that without looking at them. However, look carefully at the actual terms of your lease. All of those that require employee signatures on termination that I have seen are so the employee can attest to the fact that the box was inspected and found to be empty.

If that's the way yours is worded you would be assuming unnecessary risks not to require your employees to sign them.
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#1973489 - 10/31/14 06:22 PM Re: Safe Deposit Box Lease Termination Bec
Bec Offline
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Bec
Joined: Jul 2010
Posts: 1,115
The Great White North
Thank you Ken
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