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#89442 - 06/18/03 05:09 PM safe deposit box
Anonymous
Unregistered

We recently came across a box that had kind of "fallen through the cracks" -it was not on our new system and not accessed in years. After researching we were able to contact a signer who said he no longer had a key and thought the box was most likely closed. Do we request that he be present for the drilling? Or do we treat as abandoned even though we've made contact?
Thanks

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General Discussion
#89443 - 06/18/03 05:13 PM Re: safe deposit box
1111 Offline
Platinum Poster
1111
Joined: Jan 2003
Posts: 580
Based on customer input, drill the box in dual custody and if empty that should be the end of the matter - if not, simply contact the customer to deliver the contents.

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#89444 - 06/18/03 07:51 PM Re: safe deposit box
Anonymous
Unregistered

I agree that the box should be drilled under dual control, not in the customer 's presence, but you better obtain an inventory (or something ) from the customer before you deliver the contents to him/her. Obviously if there are identifyable things in there that belong to this customer that's a different story, but you better be certain that they belong to this customer. You wouldn't want a claim on the box.

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#89445 - 06/18/03 08:22 PM Re: safe deposit box
William J. Ludwig Offline
100 Club
William J. Ludwig
Joined: Oct 2000
Posts: 114
New York, New York USA
One of the 2 people in the dual control process should be a Notary Public. The Notary should itemize the contents of the box on a Notary's Certificate when the box is broken open. A Certificate should be prepared even if the box is empty.
_________________________
Opinions expressed are mine (since I'm retired).

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