Longstreet did not know what was in the box, other than that its contents were 'valuable.' Smith placed cash in the safe deposit box.

shall afford access to such box to the survivor or survivors of us, or any one of them. In the event of the death of any of us, the Bank. It is agreed that any one of us alone shall be entitled to access to said box and control over its contents and shall have the right to surrender said box and cancel this contract on behalf of all. The contract had the heading 'THE BRAND BANKING COMPANY Lawrenceville, Georgia JOINT CONTRACT EITHER/ANY TO HAVE ACCESS ALONE.' The lease contract named Smith and Longstreet as joint tenants of a particular safe deposit box and provided in part: Many years before Smith's death, Smith and Longstreet entered into a contract to lease a safe deposit box. Kathy Longstreet was the niece of Marjean Smith. At least that was what was decided by the Georgia Court of Appeals in Longstreet v.

What if someone doesn't want to make an inter vivos gift of his or her cash or other valuable personal property, but instead wants it to be transferred outside of probate upon his or her death? Can something like a joint tenant with right of survivorship safe deposit box work? If your plan is to use a 'joint' safe deposit box, then you better pay careful attention to the safe deposit box contract.

The concept of a JTWROS account is simple enough: the tenants have an equal right to the account's assets and the survivor gets the assets when the other account holder dies. They also tend to lead to a lot of estate litigation. Joint tenant with right of survivorship accounts are commonly used to transfer assets outside of probate.

Other word for safebox