[deMolay]

Who uses safe deposit boxes? I can't afford one, and certainly don't trust authorities. http://www.caseyresearch.com/displayCdd.php?id=260

[pedalling_faster]

it's true, if the police do a dragnet that involves safe deposit boxes, your box could get caught up.

of course, the same is true if they raid your home - and seize your assets - by mistake, which also happens.

[SeaGypsy]

it's true, if the police do a dragnet that involves safe deposit boxes, your box could get caught up.

of course, the same is true if they raid your home - and seize your assets - by mistake, which also happens.

This raid was broadly publicised as action against proceeds of organised crime and was broad sweep searches across a number of holding companies; mostly banks. On the same basis if the cops think there is a criminal in your street they could justify raiding every house in the street; including yours.

[pup55]

Well, there are a couple of things:

a. If the bank is closed, your safe deposit box is closed.
b. You can't keep anything illegal in there.
c. There is no telling what might become illegal to possess at some point ref: gold, foreign currencies.... I think there were some instances of safe deposit boxes being raided down in Argentina, when all of that stuff happened back in 2002 so that the banks could confiscate any foreign currency it happened to find.....

So, I suppose if you have something like deeds, insurance policies, CD's and that sort of thing that would be annoying to lose but have minimal cash value in and of themselves anyway, go for it.

True story: When my old grandmother died, a few years ago they looked in her safe deposit box, and there were two items: the receipt from a doll that she purchased in 1942 for one of her daughters, and a picture of some type.....She was a creature of the first Depression and kept her important items somewhere onto which the sun did not shine.

There was a story awhile back where someone was rehabbing one of these old houses and busted into a wall to find a shoebox full of currency.... I guess the moral of the story is, if you do choose to store your stuff this way, make sure that someone has a way to track it down....

[TreeFarmer]

I am pretty sure the following is correct but not 100% sure.

Suppose two people have access to a safety depost box, say for instance a parent and a child. When the owner of a safety deposit box dies, either one, the box is supposed to be sealed and only opened in the presence of either the bank authorities or legal authorities who get to see what was in the box.

Therefore, if you are wanting to leave some items to someone without others knowing what these items are, don't put them in a safety depost box.

TF

[rangerone314]

it's true, if the police do a dragnet that involves safe deposit boxes, your box could get caught up.

of course, the same is true if they raid your home - and seize your assets - by mistake, which also happens.

This raid was broadly publicised as action against proceeds of organised crime and was broad sweep searches across a number of holding companies; mostly banks. On the same basis if the cops think there is a criminal in your street they could justify raiding every house in the street; including yours.

I wonder why they consider that a "reasonable" search and seizure (re: 4th Amendment)