Pennsylvania Safe Deposit Box Inventories and Notice are documents required by Pennsylvania law to be filed with the county recorder of deeds when a safe deposit box is closed. The document must outline the contents of the box, and any owner or beneficiary of the contents must be notified in writing. It is important that this document is filed properly, as it can be used as evidence in legal proceedings if the contents of the box are disputed. There are two types of Pennsylvania Safe Deposit Box Inventories and Notice: the Standard Notice and the Special Notice. The Standard Notice is used in most cases and requires the signature of the box holder, or any other person appointed to act on the behalf of the box holder. The Special Notice is used when the box holder is deceased or unable to sign the notice. It requires signatures from the executor or administrator of the estate, or from any other person appointed to act on the behalf of the deceased or incapacitated box holder.
Pennsylvania Safe Deposit Box Inventories and Notice
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FAQ
Most banks are very clear: cash should not be kept in a safe deposit box. Read your contract with the bank. The FDIC does not protect cash, unless it's in a bank account.
These boxes are often kept in vaults and can be rented by bank customers for a fee. Modern safe deposit boxes have been around since the mid-1800s. Some banks today consider them an outdated service and have stopped offering them.
Who may enter a safe deposit box after the death of a decedent? No one is allowed to enter a safe deposit box, not even a joint owner, except to remove a will and/or burial instructions, which must be removed in the presence of a bank employee.
What Can I Use Instead Of A Safety Deposit Box? You can store physical items inside of a home fireproof safe. But, for documents, passwords, and important information, you can use a digital storage platform like Trustworthy.
Banks don't know the contents of these boxes, so you'll be able to open and sort through yours in private. You can't keep just anything in a safe deposit box; most rental agreements forbid storing items such as firearms, drugs and hazardous materials.
The trouble with safe deposit boxes began when bank executives realized that the massive vaults weren't resulting in any additional income?in fact they barely covered their own operating costs. Low rental rates and expensive vault construction resulted in little to no revenue for banks.