How do I take a deceased person’s name off of my safety deposit box?
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How do I take a deceased person’s name off of my safety deposit box?
I have put 2 people on my safety box and now I want to take off one that has died. I want to put on someone new and they are telling me that I have to have a death certificate for one and the permission of the other to put another person on? I don’t understand this. It is my box. Why won’t they do what I ask?
Asked on March 27, 2012 under Estate Planning, Texas
Answers:
Steven Fromm / Steven J Fromm & Associates, P.C.
Answered 12 years ago | Contributor
You need to comply with the bank requirements. Just because these are accomadation parties it does not mean they are not part owners in the eyes of the bank or under state law. Discuss this with an estates attorney in your area to be sure and to gain a greater comfort level with what and why it has to be done.
Patricia F. Bushman / Bushman & DuBose, LLC
Answered 12 years ago | Contributor
Once you put someone else's name on the box, it is no longer just your box. You have given ownership interest in the box to the other people. Each bank will have it's own rules as to how names can be put on and off, and what they require if there is a death.
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