What happens to a safe deposit box when its holder dies?

01/10/2026

The death of a safe deposit box holder can cause a quandary for the heirs. Unlike with other banking products, there’s no specific regulation setting out exactly what should be done when this happens.

The following are the issues that heirs most frequently face.

• Can they find out who has accessed the safe deposit box?

Some complaints concern the identity of anyone who has accessed the safe deposit box. The bank keeps an access log as a security measure. The purpose of the log is to record access and make sure that the service is provided securely. As a result, it is not as detailed or as informative as, say, a bank account’s transaction history.

Heirs are entitled to access the deceased’s bank accounts in order to identify an estate’s assets. However, that right does not automatically extend to the access log for the safe deposit box.

• Opening the safe deposit box: the source of many disputes

Another point of frequent conflict is the first opening of the safe deposit box following the death of its holder. Unlike other banking products, there’s no single, universally accepted answer as to who should be present on that occasion.

Some experts take the view that everyone who may have a legal interest in the contents of the box should be present. That would include the heirs, the executor of the estate (if there is one) and any joint holders. Other experts argue that an independent third party, such as a notary, should also attend in order to provide additional safeguards.

• How should a diligent bank act?

Given the absence of specific regulation and the lack of a commonly accepted approach, the most prudent course of action is to ensure that the process is conducted transparently and securely. Accordingly, banks should:

(i) inform all heirs of the date, time and place scheduled for the opening of the safe deposit box;

(ii) ensure that all interested parties are given the opportunity to inspect its contents when opened;

(iii) where one or more heirs are not in attendance, consider involving a notary to formally record both the opening of the box and its contents;

(iv) avoid allowing the absence of a single heir to delay the process indefinitely, particularly where the contents of the box must be established to prepare the estate’s inventory.