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#2254219 - 05/21/21 04:31 PM DEPUTY OF SAFE DEPOSIT BOX
Banker*23 Offline
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Joined: Aug 2018
Posts: 12
If there are joint lessees on a safe deposit box and a deputy is named, can the deputy continue to access the box upon the death of one of the lessees? I am referring to the terms and conditions on the box and it indicates states "If any of you die, the surviving lessees and only the surviving lessees will continue to have rights under the lease and to the safe deposit box." Therefore it appears the deputy's power to act ceases.

I am just curious if this is normal? Technically at that point, the box could be closed by the surviving lessee and a new box opened designating that deputy again?

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#2254221 - 05/21/21 04:33 PM Re: DEPUTY OF SAFE DEPOSIT BOX Banker*23
rlcarey Online
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Galveston, TX
State law issue.
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2254307 - 05/24/21 08:51 PM Re: DEPUTY OF SAFE DEPOSIT BOX Banker*23
John Burnett Offline
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John Burnett
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Cape Cod
Also take a look at the document naming the deputy. Does it have language that addresses your question? But as with virtually every other safe deposit box question, state law controls.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8

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