Florida Statutes 717.116 – Contents of safe-deposit box or other safekeeping repository
Current as of: 2023 | Check for updates
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Terms Used In Florida Statutes 717.116
- Financial organization: means a state or federal savings association, savings and loan association, bank, trust company, international bank agency, cooperative bank, building and loan association, or credit union. See Florida Statutes 717.101
- Holder: means a person, wherever organized or domiciled, who is:(a) In possession of property belonging to another;(b) A trustee in case of a trust; or(c) Indebted to another on an obligation. See Florida Statutes 717.101
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Owner: means a depositor in the case of a deposit, a beneficiary in the case of a trust or a deposit in trust, or a payee in the case of other intangible property, or a person having a legal or equitable interest in property subject to this chapter or his or her legal representative. See Florida Statutes 717.101
- State: when applied to a part of the United States, includes any state, district, commonwealth, territory, insular possession, and any other area subject to the legislative authority of the United States. See Florida Statutes 717.101
All tangible and intangible property held by a banking or financial organization in a safe-deposit box or any other safekeeping repository in this state in the ordinary course of the holder‘s business, and proceeds resulting from the sale of the property permitted by law, that has not been claimed by the owner for more than 3 years after the lease or rental period on the box or other repository has expired are presumed unclaimed.