Certification of Safety Deposit Box
What is a Safe Deposit Box?
Safe deposit boxes are also known as safety deposit boxes. These are secured, individual containers that are typically made of metal. These safes are generally located or vaulted in a federally insured bank or a credit union. These types of safes are used in most cases to secure valuables, such as jewelry, precious heirlooms, important documents, and sentimental keepsakes. The lessors of safety deposit boxes rent these for the protection and security of the building as a safeguard.
Most often, safe deposit boxes are built and designed to offer protection against fires, floods, hurricanes, tornadoes, and other natural disasters.
How to Use a Safe Deposit Box
When the safe deposit box is rented, the bank provides a key to the customer to be able to access their rented container. Some banks use a biometric security system as an upgrade to modern times. The customer may only rent a box in their name only, but they can add other people to the lease of the safety deposit box. It is recommended, but not required, that a co-lessor be added to the lease. Co-lessors will have equal access and rights to whatever contents are within the box. Designating someone with power of attorney is highly recommended so they are granted access, as needed.
For any documents that could be needed in an emergency, like original copies of important documents, passports, or other forms of identification, cash, medical prescriptions, etc., it is best to keep these at home. Safety Deposit Boxes are not accessible 24/7, so any items you may need quickly are not recommended be safeguarded within your banking institution.
Banks and credit unions do not insure all of the contents held within a safe deposit box.
Notaries Public and Safe Deposit Boxes
A notary public is an appointmented public official who represents the state government, as an impartial witness, authorized to certify specific documentation and/or a person’s identity. In the event of death of a loved one, or even in cases where the safe deposit box’s rent is 90 days or more past due, the safe is considered “abandoned”. This is when a notarial act may be required.
A notice is sent by registered mail or certified mail, to the last known address of the lessee stating that the safe will be opened. The letter of notice also states that the contents will be stored at the lessee’s expence unless payment of the rental is made within 30 days of the date of the notice, or the date otherwise given when previously agreed upon at the time of the lease agreement.
If the rent goes unpaid, the banking institution must contact a notary public in the state. It is required that the notary public be completely unaffiliated with the bank as a director, officer, employee, or shareholder. An officer of the bank and the notary public must be present at the time of the certification of an abandoned safe deposit box. This is when the notary public can execute his or her duties as set by the statutes of the state government.
If you are an officer of a bank or credit union in North Carolina and in need of an independent, mobile notary service to execute the certification of an abandoned safe deposit box, our team is here to support.
As a private citizen, operating as a co-lessor, or as power of attorney in the event of losing a family member, our professionals can help.
We offer a free 15-minute consultation, over the phone or in person, to ensure all notarizations are completed, accurately, at the time of service. Schedule your meeting or call us today for same-day services.
