Safe deposit box
A safe deposit box, also known as a safety deposit box, is an individually secured container, usually held within a larger
Some
The contents of safe deposit boxes may be seized under the legal theory of abandoned property.[3] They also may be searched and seized by the order of a court through the issuance of search warrant.[4]
In the United States and elsewhere, safe deposit boxes are considered a "legacy service"; many new bank branches do not bother to install any.[5] In the 20th century, bank branches were more prestigious; in the 21st century, space has grown more valuable with higher land values and rents, and many banks see the service as ancillary to their core business. Additionally, despite the public perception of safe deposit boxes as being extremely secure, there is little incentive for banks to actually ensure this is true; there are no federal laws in the US governing the matter or rules that would require compensation to customers if property stored there is stolen or destroyed.[5]
See also
References
- ^ Payne, Kirby D. Safety Deposit Boxes and In-Room Safes. Hotel Online data base of News and Trends.
- ^ Micahel, Alex. "Safety Deposit box Dubai". Retrieved 20 December 2022.
- ^ Liz Pulliam Weston (22 June 2005). "Why treasures in safe deposit boxes get 'lost'". MSN Money.
- ^ "Search Warrants" (PDF). American Safe Deposit. Archived from the original (PDF) on 14 April 2018. Retrieved 14 April 2018.
- ^ ISSN 0362-4331. Retrieved 19 July 2022.