National Safe Deposit Co. v. Stead

The Illinois Inheritance Tax Law operates to seal safe deposit boxes for at least ten days after the death of the renter. In view of the uncertainty as to who might own the contents of boxes, standing in the joint name of the deceased and others, the- statute sealed their boxes also for a like period. The act further provided that in neither case could the securities be removed except after notice to officers designated by the State, and even then the Company was required to retain possession of enough of the assets to pay the State’s tax. The Deposit Company insists that this statute…