N.Y. Comp. Codes R. & Regs. tit. 20 § 360.2

Current through Register Vol. 44, No. 38, September 21, 2022
Section 360.2 - Delivery of contents of safe deposit boxes of deceased residents

Tax Law, § 249-cc

(a) In all cases, a representative of the estate shall complete an application for the release of a safe deposit box, on a form provided by the department, and mail or deliver the completed form to the department.
(b)When there is a will-search order.
(1) When a will-search order has been made pursuant to section 2003 of the Surrogate's Court Procedure Act, the department shall, after receiving a properly completed application form, advise the representative of the estate as to when the safe deposit box can be opened in the presence of a representative of the department.
(2) At the box opening, a representative of the department shall make a complete inventory of the contents of the box. The bank or safe deposit company having possession or control of such safe deposit box shall deliver the following contents thereof to the person or persons entitled to receive them without written consent or waiver of the department and without retaining any portion thereof for the payment of estate tax or interest:
(i) a will, deed to a burial plot or insurance policy to be delivered as provided in the will-search order;
(ii) papers, other than securities, which have no apparent monetary value; and
(iii) United States bonds or other securities registered in the name of any person other than the decedent, whose value is readily ascertainable from published quotations and provided that the value of all such bonds and other securities is not more than $30,000.
(3) If the box also contains items not distributable in accordance with such paragraph (2) of this subdivision, then, the box shall be resealed and cannot be reopened, or the remaining contents distributed, until the department has issued a waiver to the representative of the estate.
(c)When a will-search order has not been made.
(1) If the department, after receiving a properly completed application form, determines that a representative of the department must attend the box opening, then the provisions of subdivision (b) of this section shall apply except that for purposes of paragraph (b)(3) of this section the representative of the department may determine that no additional taxes administered by the department are likely to be due. Where the representative makes this determination, a waiver can be immediately issued releasing the contents of the box to the representative of the estate.
(2) If the department, after receiving a properly completed application form, determines that a representative of the department is not required to attend the box opening, then the department shall issue a waiver releasing the contents of the box to the representative of the estate. The representative of the state shall make, sign and send a complete inventory of the contents of the box to the department within five business days after the date that the box was opened. The signature of the representative of the estate on the inventory form shall be acknowledged by a notary public.
(d)Copying of papers regarding burial.

Notwithstanding any of the provisions of this section or section 2003 of the Surrogate's Court Procedure Act, a safe deposit company, trust company, bank, corporation, firm or other person, having in its possession, or under its control, one or more safe deposit boxes, shall permit an individual or individuals, each of whom being a joint lessee with the decedent of said safe deposit box or boxes, or a deputy authorized by the decedent to have access to said safe deposit box or boxes, to examine and make copies of, in the presence of an officer of the company, bank, corporation or firm, any paper or papers found in said safe deposit box or boxes bearing upon the desire of the deceased as to the disposal of the deceased's remains, or a deed to a cemetery plot, or proof of membership in a burial society. For purposes of the preceding sentence, the term deputy shall mean the person who had access to the decedent's safe deposit box or boxes and to the contents thereof on the last day of decedent's life. After copies have been made of the paper or papers described in this subdivision, the original paper or papers shall be resealed in the safe deposit box or boxes. The contents of the box or boxes shall be distributed in accordance with subdivisions (a) and (b) or (a) and (c) of this section.

N.Y. Comp. Codes R. & Regs. Tit. 20 § 360.2