TODO_LEGAL_REVIEW. Legal statements on this page need review by a Florida attorney before launch.
If the rent lapses
When the rent stops and nobody notices
A box whose rent stops does not stay untouched forever. The rules depend on who holds it. For a bank, Florida law sets the timeline. For a private vault, the rental agreement does.
Rent lapses quietly. Letters go to the address on file, and during a long sentence the person whose name is on the box may never see them. The family member who would have paid may not know the box exists.
For bank boxes, Florida has a written rule. Property held by a banking or financial organization in a safe-deposit box is presumed unclaimed if the owner has not claimed it within 3 years after the rental period expires. Unclaimed property goes to the Florida Department of Financial Services, which commonly sells tangible property and holds the proceeds for a claimant. Source: Florida Statutes § 717.116 (2026) — checked 2026-10-19.
Read the last part twice. A claimant can recover the proceeds, but a ring sold by the state does not come back as the ring. What happens to a box when rent goes unpaid walks through the bank side in more detail.
Florida Intervault is a private vault, not a bank, and whether § 717.116 applies to a private vault is not settled here. How we handle a lapsed box is set by our rental agreement: TODO_FACT: what Florida Intervault does when rent lapses: notices, grace period, when a box is drilled, what is done with contents. The plainest defence is one term that covers the whole sentence, through prepaid multi-year terms, plus an agent with authority to answer the mail.
What matters
- For bank boxes, Florida presumes contents unclaimed 3 years after the rental period expires.
- The state commonly sells unclaimed tangible property and holds the proceeds for a claimant.
- A private vault's lapse process is set by its rental agreement.
- Keep a current mailing address on file for someone who will read the mail.
- A term that covers the whole sentence takes the yearly bill off the table.
How we handle it
- Notices before a lapse: TODO_FACT: what notices does Florida Intervault send, to whom, and how?
- Grace period and opening a lapsed box: TODO_FACT: how long is the grace period, and when is a lapsed box drilled?
- Contents of a lapsed box: TODO_FACT: are contents held, for how long, and are they ever reported to the state?
- Term discounts: 20% off each year's rent on rentals of three to five years, 25% on longer ones.
Where we stop
We will not tell you a lapsed box is out of reach of the state, a creditor or a court. If a lapse has already happened, call us and tell your attorney.
Short answers
- Who receives the lapse notices if I am inside?
- TODO_FACT: who receives lapse notices, and can a renter add a second contact? Renting for longer than the expected absence keeps the question from arising.
- Does the bank rule apply to a private vault?
- That is a question for your attorney. § 717.116 is written about banking and financial organizations. Ask your attorney, and read our rental agreement for how we handle a lapse.
- What should a family member do if a lapse notice arrives?
- Call us the same week and tell your attorney. Have the rental agreement and any power of attorney to hand when you call.
Questions people ask about this
More on how it works
Agent access by power of attorney
A Florida power of attorney names who acts for you: how it is signed, who may serve, what to ask.
Prepaid multi-year terms
A multi-year term takes 20% to 25% off each year's rent. The smallest box on three years is $636 a year.
Release and pickup
Who may open the box when the sentence ends, what they must bring, and why that plan is made beforehand.
Mail-in and out of county
Documents mailed from anywhere in the US go into your box, and the key comes back. Valuables are a separate question.
Settle it before the date, not after.
A short call is usually enough to know whether a box is the right answer. If it is not, we will say so. Attorneys and family members are welcome to call on a client's behalf.