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To: RJA_ who wrote (85946)1/16/2012 5:41:28 PM
From: Box-By-The-Riviera™1 Recommendation  Read Replies (1) | Respond to of 218460
 
does it matter?

last place on earth to store something of value is a safety dep box.

read the contract. and hurry and get your junk out of it.



To: RJA_ who wrote (85946)1/17/2012 1:18:47 AM
From: Hawkmoon  Respond to of 218460
 
The reliability of a bank located safe deposit box has always been a concern for me as well. Stick to a regional/local bank that has roots in the community is my advice..

Hawk



To: RJA_ who wrote (85946)1/17/2012 1:57:44 AM
From: Riskmgmt6 Recommendations  Read Replies (2) | Respond to of 218460
 
>>Perhaps, even safe deposit box contents could be taken with the onus being on the injured party to sue to get them back.

Has this ever been done in the history of any FDIC takeover?

Not sure. You could look that up. One thing is certain, as it states in the article posted by Snowshoe, under the POCA law "the burden of proof is on the safe deposit box holders".

This is as I speculated above.
An associate of mine years ago here in the USA, was stopped for a traffic violation (alleged) and had his car searched. He had a large sum of money in his brief case and that was confiscated by police. He spent much time and money "proving" it was legit proceeds from a Real Estate transaction.

Referring to that article one victim had spent 200,000. Pounds in legal fee's so far. And while the USA may not have POCA it has similar laws.

Not trying to panic people but most Americans blithely go about their lives assuming if their innocent they are protected. They need to wake up, least their forefathers blood spilled in the revolutionary war and those since, for freedom of individual rights were spilled in vain.