bank abandoned safe deposit boxes auction

The notice shall include the lessee's name and last known address.Ĭ. The bank shall then send notice to the administrator of the Uniform Unclaimed Property Act of 1997 for inclusion in their database and listing on their website that the safety deposit box has been abandoned and that the bank is holding the listed contents thereof. If the safety deposit box rental is delinquent for six months, the bank after sixty days' notice by mail addressed to the lessee at his address as shown on the safety deposit box contract may, if the rent is not paid within the time specified in the notice, open the box in the presence of two employees of the bank and a notary public who shall make an inventory of the contents of the box and place such contents in a sealed envelope or other container in the name of the lessee.

Only the safety deposit box itself, and not the contents, may be deemed abandoned as provided herein.ī.

A safety deposit box leased from any bank shall be deemed abandoned and the bank may remove the contents of such safety deposit box, if the rental therefor remains unpaid, all as provided under Subsection B of this Section, or pursuant to the terms of the safety deposit box contract, or as otherwise permitted by law. RS 327 - Abandonment of safety deposit boxĪ.

Bank abandoned safe deposit boxes auction