The contents of safe deposit boxes or other safekeeping depositories are considered abandoned when they remain unclaimed by the owner for more than three years after the lease or rental period on the box has expired.
The contents are required to be turned over to the State where they are held for two more years.
- After two years have passed, a notice of sale is published and items of value are sold at public auction.
- Safe deposit box contents are liquidated within three years of receipt; however, the proceeds remain the property of the original owners for the remainder of the 35 year escheatment period.
- Other items that the State deems to have inconsequential value are disposed in an appropriate manner.