My husband and I have a joint safe deposit box. He lives and works in California and I live in Texas. I lost my key and called the bank to have them make me a new one. I didn't want my husband to know that I had lost the key, but the bank teller called him and informed him. Was she required to do this because of bank policy?
Whether or not there is any state or federal law or regulation that addresses whether a co-lessee has to be notified when a key is lost, your bank might want to contact a co-lessee. Replacing a lost key normally requires drilling the box, which means engaging a licensed locksmith to forcibly open the door, and replace the lock. That requires the cooperation of anyone holding the other key, in this case, your husband, since that key has to be surrendered and new keys issued. When the box is forcibly opened, the bank wants the lessees of the box to get involved and secure their property for transfer to the new box.
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Whether or not there is any state or federal law or regulation that addresses whether a co-lessee has to be notified when a key is lost, your bank might want to contact a co-lessee. Replacing a lost key normally requires drilling the box, which means engaging a licensed locksmith to forcibly open the door, and replace the lock. That requires the cooperation of anyone holding the other key, in this case, your husband, since that key has to be surrendered and new keys issued. When the box is forcibly opened, the bank wants the lessees of the box to get involved and secure their property for transfer to the new box.
