Procedures on Death or Incompetence of Safe Depositor

  1. Law
  2. Georgia Code
  3. Banking and Finance
  4. Financial Institutions
  5. Banks and Trust Companies
  6. Deposits, Safe-Deposit Agreements, and Money Received for Transmission
  7. Procedures on Death or Incompetence of Safe Depositor

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  1. Any financial institution contracting with a person for the use of a safe-deposit box or receiving property from a person for safekeeping, upon presentation of satisfactory proof of the death or legal incompetence of such person, shall permit any person named in an order granted by the probate court having jurisdiction of such person's estate to open and examine the contents of any safe-deposit box leased by the decedent or legally incompetent person or to examine the property left by such person for safekeeping, in the presence of an officer of the financial institution. The financial institution, if so requested by such person, shall deliver:
    1. Any writing purporting to be a will of the decedent to the probate court having jurisdiction of the decedent's estate;
    2. Any writing purporting to be a deed to a burial plot or to give burial instructions to the person named in such order;
    3. Any document purporting to be an insurance policy on the life of the decedent to the beneficiary named therein;

      but no other contents shall be removed pursuant to this Code section.

  2. Within five banking days after the order of the court is presented to the financial institution, the financial institution shall permit the person named in such order to inventory the contents of any safe-deposit box leased or rented to the decedent or legally incompetent person or the property left by such person for safekeeping. The inventory shall be conducted in the presence of an officer or employee of the financial institution by the person named in such order. The inventory shall be signed by such persons, and a copy thereof shall be retained by the financial institution and may be filed with the probate court.
  3. The financial institution shall be free from all liability with respect to any action, claim, or demand of whatever nature asserted by any heir, legatee, distributee, creditor, administrator, executor, guardian, trustee, or other fiduciary or by any person whomsoever when acting pursuant to such letters of authority.
  4. Upon presentation of a certified copy of his letters of authority, the financial institution shall grant the personal representative access to any safe-deposit box or property in safekeeping in the sole name of a decedent or legally incompetent person to permit him to remove from such box or place of safekeeping any part or all of the property therein without liability.

(Ga. L. 1972, p. 437, §§ 1-4; Code 1933, § 41A-1609, enacted by Ga. L. 1974, p. 705, § 1.)

Cross references.

- Opening of safe deposit box on authorization of fiduciary, § 53-7-5.

RESEARCH REFERENCES

Am. Jur. 2d.

- 11 Am. Jur. 2d, Banks and Financial Institutions, §§ 1003, 1006, 1012.

C.J.S.

- 93 C.J.S. (Rev), Warehousemen and Safe Depositaries, §§ 141, 142.

ALR.

- Insurance of bank or trust company against loss by burglary or robbery as covering contents of safety deposit boxes rented to customers, 30 A.L.R. 623.

Liability for loss of contents of safe deposit box, 42 A.L.R. 1304; 133 A.L.R. 279.

Presumption as to ownership of property in safe deposit box, 101 A.L.R. 832.


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