Resources > Glossary > Safe Deposit Box Openings

Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Safe Deposit Box Openings

Function: noun

New York is peculiar in that a notary is required to witness a bank opening a safety deposit box. The notary is not required to record the contents of the safety deposit box in a journal. Below is the official rule: If a rental fee of a safety deposit box isn't paid, or after the termination of the lease for such box, and after thirty days of giving proper notice to the lessee, the lessor (the bank), may, in the presence of a notary public, open the safe deposit box, remove the contents. The notary public shall then file with the lessor a certificate under seal which states the date of the opening of the safe deposit box, the name of the lessee, and a list of the contents. Within ten days of the opening of the safe deposit box, a copy of this certificate must be mailed to the lessee at his/her last known postal address.