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The reason being a deputy or agent role, much like a Power of Attorney, can be granted or revoked at any time, and this role is automatically terminated if you die. So, appointing a deputy or agent in the presence of bank employee offers proof that this decision is current and valid.
Safe deposit boxes may be frozen or accessed if there is a judgment against your assets. These judgments can come either from private party judgments, such as collections agencies, or the IRS. Since you must supply your name in order to open a safe deposit box, the IRS can trace that box if they have reasonable cause.
After a period of time, the FDIC or the bank must transfer unclaimed property to the state. Federal law requires unclaimed deposit accounts to be transferred to the state after 18 months, and state laws differ on the period of time after which contents of safe deposit boxes must be transferred.
As long as you're up to date with your payments, you or anyone you've authorised can access your box at any time during our opening hours.
Every bank branch requires a signed signature card for each person (regardless of whether or not they have an account with the branch) who wants access to your safe deposit box. The people who attempt to access your box must sign their name before they enter the bank vault.
Maintaining anonymity. An anonymous security deposit box isn't registered to any name and it's really 100% completely anonymous. Only you know the number and only you have the key. No records, no bureaucracy.
California Probate Code 331 controls access to a safe deposit box after the death of decedent. If the decedent owned the safe deposit box with a spouse or another person, then that person will have access to it.
Safety deposit boxes are housed within a locked vault, which gives the outwards appearance of safety and assurance. Theoretically, contents in a safety deposit box are safe from being stolen and safe from the wear and tear that comes from keeping valuables out in the open. However, the Federal Deposit Insurance Corp.