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Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 362

previous next Effective - 28 Aug 1984bottom

  362.488.  Death of lessee, duties of lessor — additional duties by contract. — 1.  In the event the sole lessee or all lessees as joint renters named in the lease agreement covering a safe deposit box rental shall die, the lessor by contract may accept the following additional duties:  The safe deposit box may be opened at any time thereafter, in the presence of persons claiming to be interested in the contents thereof, by two employees of the lessor, one of whom shall be an officer of the lessor; and such employees may remove all instruments of a testamentary nature and deposit the same with the probate division of the circuit court, taking its receipt therefor, and such employees in their discretion may deliver life insurance policies therein contained to the beneficiaries named in such policies, and any deed to a cemetery lot and any burial instructions found therein to the appropriate parties; and such lease shall state that the lessor retains the right to open the safe deposit box on the death of any lessee, including joint renters.  When a safe deposit box is opened as authorized in this subsection, the contents not specifically authorized for removal shall remain in the box leased to joint renters.  The remaining contents of all other safe deposit boxes so opened shall be kept and retained by the bank, trust company, or safe deposit company and shall be delivered only to the parties legally entitled to the same.  In the event no person claims to be interested in the contents of a box within sixty days after the death of the lessee, the lessor may open the box by forcible entry and remove the contents and dispose of the same in accordance with the procedures specified in section 362.485.

  2.  Upon the death of any lessee of a safe deposit box and upon request of the probate division of the circuit court, the lessor shall reply to such request and inform such official if the designated person was the lessee of a safe deposit box at the time of death.

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(L. 1981 S.B. 28, A.L. 1984 H.B. 1088)


---- end of effective   28 Aug 1984 ----

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