Safety deposit box: why and when is it needed?

After completing the purchase and sale agreement, the new owner of the property takes ownership, and the seller receives a key to the safe from a bank specialist. With this scheme, both parties can be confident in each other and the safety of the operation.

Who pays for the cell

Space in a bank vault is rented for a month. An apartment can be registered a week in advance, but in order to insure in case of force majeure, the buyer takes the place for a long period of time. The seller can agree with the buyer to remove the cell in half.

Documents for cell removal

In addition to the tripartite agreement, the parties to the transaction sign an additional agreement. It specifies the circumstances under which the seller receives money after completing the home purchase procedure. If the transaction is postponed, the buyer has the right to open the safe and take away the cash.

He retains the right to draw up a list of documents in the additional agreement, after presentation of which the seller has the right to withdraw the money. In addition to a certificate from the Unified State Register of Real Estate, an agreement from Rosreestr, you can ask to see a document of acceptance and transfer of housing or a document proving that no one is registered in the apartment.

How long can you store valuables in a cell?

The cell can be rented for any time. Usually the contract is concluded for a period from 1 day to 3 years with the possibility of extension (prolongation). And here you need to be careful. The bank can prolong the agreement by default, then your valuables remain in the cell, and you only pay the required amount for storage.

If there is no automatic extension, it all depends on the contract. Some banks will remind you that your lease is expiring, while others will not.

In any case, if you do not pick up the property on time, the bank may open the safe and place the contents in a single locked bank vault. And when you decide to pick up your items, you may be required to pay compensation - a fine and a higher storage fee.

To avoid unpleasant surprises, you should carefully study all the terms of the contract.

How much does a cell cost?

The larger the cell size, the more expensive the rent. On average, a safe will cost you from 40 to 90 rubles per day.

Banks often give a discount of up to 50% on the rental of safe deposit boxes. For example, clients who open holiday deposits, or owners of premium service packages.

Additionally, you may be asked for a deposit for the key and use of the locker. Here the numbers can differ by an order of magnitude: in some banks the deposit is 500 rubles, in others - 3000. The deposit will be returned when you empty the safe.

Are all cells equally secure?

The basic requirements for the security of bank vaults and safes are specified in GOSTs (the necessary standards can be found by searching on the Rosstandart website for the query “vault security”). Plus, banks are developing internal security standards. But in general, there are no big differences in the security systems of different banks.

And, despite all the efforts of banks, sometimes it happens that they are robbed and bank deposit boxes are hacked. Moreover, this happens in both large and small banks. There is no pattern here. The chance that scammers will target your bank is very small, but it cannot be completely ruled out.

Basic Rule

I always advise buyers to ensure that the seller receives money for the apartment only after registering the purchase and sale transaction . The methods that I described below are based precisely on this rule. In addition, sellers readily agree to these methods, because their interests are also protected here.

What happens if robbers do steal valuables from my safe deposit box?

The chances of returning the stolen property or receiving its value in cash depend on the agreement you entered into with the bank.

It is safer to use a custody agreement . In this case, the bank is responsible for the safety of the contents. Valuables are accepted and issued according to the inventory. If you put money in a safe deposit box, the bank will count it and check its authenticity. If you are going to store other property, the bank will hire an appraiser to enter the fair value into the contract. You will have to pay for this separately. But if something disappears from the cell, the bank must fully compensate for the damage. But not all banks provide this service.

Much more often they offer a regular lease agreement . This means that the bank does not control what is in the safe: the bookmark occurs without an inventory and without the participation of bank employees. A safe deposit box is opened with two keys: one is kept with you, the other is kept in the bank. Therefore, the bank employee will enter the vault with you to open the safe with his key. Then he will leave the room, and you will have time to put your valuables in the box.

In any case, the bank is responsible for the safety of the safe. By law, if a cell is robbed, the bank is obliged to compensate you for losses, that is, fully compensate for the amount of missing property. And you can sue the bank. But in fact, it will be difficult to prove without an inventory that there was a diamond necklace in the cell and not a bag of chips. In this situation, all hope is only with the police.

Thus, under a lease agreement, it is safest to store only what is of no interest to bank robbers - for example, documents. Another option is to separately insure the property. If the bank itself does not offer you this service, you can contact a third-party insurance company.

Payments for an apartment through a letter of credit

A letter of credit is a banking service that represents an obligation of the bank, on behalf of the client, to make a payment from a special (letter of credit) account to a specified person (recipient) upon presentation of the agreed documents.

The essence is the same as that of a safe deposit box (see above), but in the safe deposit box the payment is in cash, but here it is by bank transfer .

In what cases may registration of a transaction with an apartment fail? Reasons for suspension and refusal to register rights – see the link.

The bank in which the Buyer opens a letter of credit is called the issuing bank .

The bank that will issue money to the Seller is called the executing bank (may be the same bank as the issuer).

The provision by the Seller of documents confirming the sale of the apartment and the transfer of ownership is called a method of executing a letter of credit .

A letter of credit can be covered (deposited) or uncovered (guaranteed). In the first case, the issuing bank actually transfers the money to the account of the executing bank , and in the second case, the money is stored in the account of the issuing bank until the letter of credit is executed .

A letter of credit can also be revocable or irrevocable . Here we are talking about the arbitrary possibility of the issuing bank to revoke the letter of credit from the executing bank .

a covered irrevocable letter of credit is usually used . It is this type of it that allows the interests of both the Seller and the Buyer to be taken into account to the greatest extent.

♦ Sequence of actions when paying through a letter of credit ♦ (Click! And the algorithm for how the letter of credit works will open in a pop-up window)

The cost of settlements for a transaction through a letter of credit is comparable to the cost of settlements through a safe deposit box. You can compare prices and conditions in the “SERVICES” section.

Banking services for settlements through letters of credit (Sberbank, VTB, Alfa Bank) - HERE (SERVICES).

More details about the procedure for opening a letter of credit, making payments through it (with sample applications and agreements), and the pros and cons of the letter of credit form of payment are described in a separate note at the link.

What documents for opening a letter of credit are in practice submitted to the bank, as well as about all the nuances of such calculations, you can read on our thematic FORUM here.

And in the primary housing market, instead of a letter of credit, they use a payment instrument very similar to it - special escrow accounts (more about them - follow the link).

What you need to know about taxes and tax deductions when making a transaction for the purchase and sale of an apartment - see here.

How to rent a safe deposit box in a bank?

1. First you need to draw up an agreement, for this you will need a passport. If you want to use a safe deposit box to transfer money, for example, for a plot of land, you must come to the bank together with the seller and conclude a tripartite agreement.

2. Select the cell size and rental period. To complete the transaction, the locker is needed for a short period of time, usually no more than a month, but if necessary, the lease can be extended.

It is better to choose an agreement with automatic renewal (extension), otherwise you (or even together with the seller) will need to come to the bank again to renew the lease.

3. After this, you will be given a key to the cell. The second key remains with the bank. Additionally, you may be given, for example, a one-time electronic pass to enter the storage unit.

If you are going to transfer money for the purchase of an apartment or plot using a safe deposit box, then you can immediately hand over the key to the seller. But he will be able to use it only after the property becomes yours.

4. To put something into or take something from a cell, you and a bank employee enter the vault. The employee opens the locker with his key, and you open it with yours. Depending on what type of agreement you have - rental or storage of valuables - the bank representative either controls what you put in or take out, or leaves you alone with the safe.

If you choose a storage agreement for valuables, the bank counts the money and checks its authenticity, draws up an inventory, and then places it in a safe deposit box in front of you. If it is a lease agreement, the bank employee does not check what you put there.

5. After you place or pick up the property, you (or the seller) lock it with your key, and the employee with his.

6. To access the locker again, you will need to present your passport again.

If you are buying real estate, after putting money in the box, you can work with the seller to register the property in your name. The seller comes to the bank with his copy of the agreement registered in Rosreestr. After presenting the documents, the bank gives him access to the safe deposit box and he withdraws the money.

Real estate transaction: which payment method to choose?

The correct choice of payment method when buying/selling real estate is of great importance. Huge amounts, the prevalence of fraudulent schemes - all this forces you to approach the choice of payment method for real estate as seriously as possible. This article will allow you to choose a safe payment method for your transaction, as well as understand the procedure for this type of payment. In this article, we will take a detailed look at the main payment methods for real estate transactions, tell you their pros and cons, take a detailed look at the actions of the buyer and seller on various methods of payment for real estate, and tell you how to arrange the transfer of money when buying an apartment or other real estate, depending on the chosen payment method .

PAYMENT IN CASH OR BY TRANSFERING MONEY TO A BANK ACCOUNT

pros	Minuses
Fast	When transferring a large amount of money in cash, it is easy to miss counterfeit bills.
Cheap

The need to protect a large amount of money during cash payments.

The parties are comfortable with different payment terms. The rights of the seller are maximally protected when transferring money before submitting documents to register ownership. After receiving the documents, the buyer may lose interest in fulfilling his obligations. It is not profitable for the buyer to pay before submitting documents for registration, since during the registration process surprises may arise, such as the seizure of the apartment, which will lead to the impossibility of fulfilling the contract, and the money has already been transferred.

The current legislation contains rules that help the parties protect their rights if payment information is included in the contract after registering the transfer of ownership, the seller has a right of pledge on the basis of clause 5 of Art. 488 of the Civil Code of the Russian Federation, unless the parties provide otherwise in the contract. In this case, Rosreestr employees will make a note in the register - mortgage by force of law. When the apartment is pledged, the buyer is better motivated to fulfill his obligations. But this only works if the contract does not provide otherwise. The downside is that both parties will have to apply for the removal of the encumbrance. And the seller, having received the money, may begin to avoid cooperation.

If you nevertheless choose this payment method, then the buyer needs to take care of the correct execution of the transfer of funds and the preservation of payment documents, since payment for real estate is an important part of the purchase process. If you pay money non-cash, by transfer through a bank, then as confirmation of payment you must keep a payment order for the transfer of funds (when transferring from an account to the seller’s account) or an application for the disposal of funds, a bank receipt (if the money is deposited at the bank’s cash desk and then transferred to the seller). If payment for the cost of real estate occurs by transfer of cash, then the seller must write a handwritten receipt in front of you, confirming that you have transferred the funds to him. The receipt indicates: the date of receipt, full passport data of the seller and buyer, the transferred amount in numbers and words, details of the contract of sale of real estate, the property, the seller’s handwritten signature. It is important that the seller signs the receipt in front of you before transferring the money (to avoid the risk of challenging the signature on the receipt). Also, if desired, the signature on the receipt can be notarized.

Calculation USING AN INDIVIDUAL BANK BOX

A convenient type of payment for both parties. The parties jointly rent a safe deposit box from the bank and stipulate in a tripartite agreement the conditions for access to it. The seller, who has an extract from the unified state register of real estate confirming the transfer of rights, receives access to the locker for some time. Just in case, the parties can always get shared access. And if after the agreed time the seller does not take the money, then it is returned to the buyer. This is only one version of the conditions; the parties may agree otherwise. Banks provide services for counting and checking banknotes before placing them in a safe deposit box, which is very convenient, since the payment amounts for real estate are quite large.

pros	Minuses
There is a high probability that the obligations under the contract will be fulfilled by the parties in full, since everyone is motivated. At the same time, the seller is confident that he will receive the money, since he sees the money directly before registering the transfer of ownership, and the buyer is confident that the seller will receive the money from the cell only after registering the transfer of ownership.	The need to pay for bank services (rental of a safe deposit box, recalculation, verification).

Sometimes an unscrupulous buyer introduces provisions into the contract that deliberately prevent the seller from collecting the money.
And the seller does not show sufficient care and legal literacy to notice this. Let us take as an example a case from judicial practice. party entered into a lease agreement for an individual bank safe with special conditions.
The seller, having the relevant documents, contacted the bank with a request to provide access, but the bank refused this, because There is a typo in the rental agreement for the safe; the seller is listed in it as the buyer of the apartment. The seller called the buyer and asked to visit the bank together to correct the typo, but the buyer refused. The seller of the apartment did not receive the funds due to a typo in the lease agreement for the bank safe. The buyer took the money from the safe, which indicates his dishonesty. The court decided to terminate the apartment purchase and sale agreement with the return of the apartment to the ownership of the seller. Considering the existence of a lease agreement for a bank safe deposit box, which included funds due to the seller for the sold apartment, the court recognized the receipt presented by the defendant as non-cash, from which it follows that the seller received a sum of money from the defendant for the apartment (Determination of the Moscow City Court dated April 28, 2016 No. 4g-4632/2016). In this case, the seller was lucky in the cassation court. You may not be so lucky next time, so it is very important to PERSONALLY and carefully read all the documents you sign, and you should not hand over a receipt for the money until you actually receive it. Depositing money into a safe deposit box does not yet mean paying for the cost of the apartment; the receipt is transferred only after gaining access to the safe deposit box.

To avoid the risk described above, when the receipt has already been transferred and the seller cannot gain access to the box, in practice the receipt is transferred after registering the transfer of ownership and gaining access to the box. At the same time, buyers are also insured in case the seller freely gains access to the safe deposit box and at the same time refuses to hand over a receipt for receipt of money, without which payment will not be considered made (the safe deposit box agreement is not a confirmation of payment), therefore, the receipt is not handed over until receipt keys to the cell. And there are situations when buyers refuse to hand over the keys after registration, the seller is forced to terminate the contract due to non-payment, and during this time the buyer can sell the apartment to another person. Accordingly, the disadvantage of the cell is that it makes the parties interdependent when receiving money from the cell. However, there always remains the risk of dishonesty on one of the parties.

If you have chosen payment through a safe deposit box as a payment method, we suggest that you familiarize yourself with the procedure for completing a real estate transaction using a safe deposit box. When paying for real estate through a safe deposit box, a real estate transaction, as a rule, is concluded at the bank where the safe deposit box is rented: the parties sign a purchase and sale agreement, check each other’s documents, and exchange documents. To rent a safe deposit box, a lease agreement is concluded with the bank, which stipulates the conditions for access to the safe deposit box. Such conditions, as a rule, include the provision of a purchase and sale agreement confirming the transfer of ownership to the buyer (registration mark on the agreement), an extract from the Unified State Register of Real Estate confirming the transfer of ownership. However, additional conditions may be specified (for example, providing an extract from the house register confirming the deregistration of people living in the apartment, if they were not “registered” at the time of the transaction). In addition, it is advisable for the seller to order such a service from the bank as “checking and recalculating funds”; a bank employee on the machine checks the bills for authenticity and also calculates the amounts, then the funds are packed in a sealed bag with the signature and seal of the bank. Next, the seller, buyer and bank employee go to the vault and jointly deposit money into an individual safe deposit box and close it. The keys to the safe deposit box are given to the buyer. Subsequently, the buyer gives the keys to the seller in exchange for the seller’s receipt of money. In practice, the seller and the buyer write a receipt immediately on the transaction (the seller writes a receipt for receiving money, the buyer puts his signature on it in order to later distinguish this receipt from others and avoid replacing the signature on the receipt), the receipt remains with the seller, the buyer retains the keys, After registering the transfer of ownership, the parties exchange rights. The seller gives the buyer a receipt for the receipt of funds, and the buyer gives the seller the keys to the safe deposit box. It is preferable to make this exchange directly at the bank, having gained access to the bank safe deposit box.

SETTLEMENT BY OPENING AN ESCROW ACCOUNT

A method of calculation that for some reason has not yet received the popularity it deserves. The essence of this method is as follows - everything is the same as with a cell, only in non-cash form. The buyer and seller sign a tripartite agreement with the bank to open such an account, stipulating the conditions under which the money is transferred. If these conditions are met, the money is transferred to the seller.

A convenient and practical way for both parties. Unlike a cell, you don’t have to deal with cash and put yourself at risk. In addition, funds placed in an Escrow account for settlements under a real estate purchase and sale transaction, if the parties to the agreement are individuals, are subject to insurance in accordance with Federal Law No. 177-FZ “On insurance of deposits of individuals.” However, do not forget about the limits on payment of the insured amount in case of bank bankruptcy and license revocation (up to 1,400,000 rubles). Therefore, you need to choose a reliable bank when dealing with real estate.

pros	Minuses
Wire transfer, no need to withdraw a large amount of cash	Few banks refuse services for opening an escrow account.
The escrow account of an individual is insured (in the amount of 1.4 million rubles)

High cost of banking services.
If you have chosen an escrow account as your payment method, we suggest that you familiarize yourself with the procedure for completing a real estate transaction using an escrow account. When using an escrow account, a tripartite agreement is concluded between the bank, the seller (beneficiary) and the buyer (depositor). In this case, it is mandatory for the buyer to open a current account with the bank in which the escrow account is opened; the seller may not be a client of this bank. This agreement specifies the condition under which funds are transferred to the seller (by analogy with a safe deposit box - provision of documents confirming the registration of the transfer of ownership, additional conditions are possible). Next, the buyer transfers funds to the open escrow account. After the conditions for transferring funds have occurred (registration of transfer of ownership, other circumstances established by the parties), the seller contacts the bank to transfer funds. The bank, after checking the documents provided by the seller for compliance with the terms of the escrow account, transfers the money to the seller’s account. At the same time, it is important to distinguish a legal examination, during which the correctness of filling out documents is checked, from another examination (for example, handwriting examination, during which the authenticity of a signature can be verified). In other words, if an impeccably executed but counterfeit document is presented to the bank, the bank will accept it and write off the money from the escrow account. An escrow account is actually an account opened with a bank in favor of a third party; this significantly distinguishes an escrow account from a letter of credit, which is a complex form of payment with the transfer of money to the correspondent account of the issuing bank or the executing bank, and a safe deposit box in which the payment is made in cash.

SETTLEMENT BY LETTER OF CREDIT

One of the safest non-cash payment methods, therefore, it has all the advantages listed above, the escrow account, however, it is a complex form of payment, and therefore has some differences in the procedure for processing and transferring money. If an escrow account is opened on the basis of a tripartite agreement and is a bank account opened in one bank in favor of a third party, then the relationship regarding the letter of credit involves the buyer (applicant, payer under the letter of credit), the seller (beneficiary), the issuing bank, the executing bank. The last two can be either one person or different banks. A letter of credit is opened on the basis of the buyer’s application for opening a letter of credit (and not a tripartite agreement), therefore the buyer’s obligations regarding the content of this application, in particular the conditions for transferring money under the letter of credit to the seller, must be specified in the purchase and sale agreement. The money transfer scheme looks like this: the buyer deposits money into his current account, upon application for opening a letter of credit, they are transferred to the correspondent account of the issuing bank, the issuing bank transfers them to the correspondent account of the executing bank, the executing bank transfers the money to the seller’s account. A letter of credit can be covered or uncovered, revocable or irrevocable, each of them has its own characteristics.

A covered letter of credit assumes that the issuing bank immediately transfers funds to the account of the executing bank (when opening the letter of credit) for the entire validity period of the letter of credit.

An uncovered letter of credit means that the issuing bank transfers money to the account of the nominated bank only after providing documents confirming compliance with the conditions for transferring money to the seller.

The issuing bank, on behalf of the buyer, has the right to cancel or change a revocable letter of credit at any time unilaterally, without notifying the recipient of the money.

An irrevocable letter of credit cannot be canceled by the issuing bank on behalf of the buyer unilaterally without the consent of the recipient and the nominated bank and cannot be changed without the consent of the recipient.

There is also a transferable letter of credit, which implies the possibility of transferring money to a third party on behalf of the recipient of the funds (for example, for alternative real estate transactions) and a confirmed letter of credit, when the letter of credit is confirmed by another bank and the other bank becomes obligated to the recipient of the funds jointly and severally with the issuing bank.

When drawing up a purchase and sale agreement with payment through a letter of credit, the parties, as a rule, sign the purchase and sale agreement at the bank in which the letter of credit is issued. To issue a letter of credit, the buyer will need to open a bank account and sign an application for opening a letter of credit. This statement indicates the main formalities: the amount of the letter of credit, the term of the letter of credit (indicated taking into account the registration of the transfer of ownership), the agreement in pursuance of which the letter of credit is opened, a description of the property, data of the buyer and seller, the type of letter of credit (as a rule, it is used for real estate transactions irrevocable covered letter of credit), as well as the basis for receipt of funds by the seller (purchase agreement with a note on registration of the transfer of ownership), bank details of the seller. Next, the buyer deposits funds into a bank account, upon application for opening a letter of credit, the money is transferred to the bank in which the seller’s account is opened (if the letter of credit is covered), or remains in the correspondent account of the bank that opened the letter of credit (issuing bank), and is transferred to the seller’s bank (executing bank, executing bank) only after receiving documents on the fulfillment of the terms of the letter of credit (uncovered letter of credit). The procedure is simplified and the time for transferring money is reduced if the buyer and seller have an account opened in the same bank. No further participation by the buyer is required. Documents justifying the transfer of funds are provided by the seller to the executing bank, which, after checking the documents within a few days, transfers funds from the correspondent bank to the seller’s account.

Calculation VIA NOTARY DEPOSIT

This method is similar to payment through a letter of credit, but instead of a bank a notary acts: the buyer deposits the money into the account of the notary, who transfers it to the seller after registering the transaction. In this case, a corresponding agreement is signed between the parties. Taking into account the provisions of the law that the debtor has the right to withdraw funds from the deposit at any time before execution, it is necessary to clearly state in the agreement the conditions for transferring money to the buyer, as well as the conditions for returning money to the seller (increase the period, etc.).

In our opinion, the safest way for both parties is to use non-cash payments: using a letter of credit or using an escrow account. However, if there is a need to use cash, then it is preferable to use a safe deposit box; real estate transactions using a safe deposit box are currently popular.

Do you need legal support for a real estate transaction? For an initial consultation and calculation of the cost of services, call us at 8 (495) 223-48-91 or submit a request.

Order

Will my relatives be able to access the box if something happens to me?

The easiest way is to immediately issue a power of attorney to another person to allow him access to the safe. The bank will either issue it itself at your request, or will ask for a power of attorney certified by a notary.

You can draw up a power of attorney that will only be valid under certain conditions. For example, upon presentation of the death certificate of the person who issued the power of attorney, then it actually becomes an analogue of a will.

If such a power of attorney is not issued, then your loved ones may try to obtain valuables from your safe deposit box through a notary. The action plan in this case will be as follows:

1. Within six months from the date of death, relatives must contact a notary to enter into an inheritance. He will send a request to the bank to find out which accounts, deposits and cells were registered in the name of the deceased. If it is known exactly which bank he was serviced in, the notary will send the request there. But usually, just in case, notaries send requests to all banks in their region that work with individuals.

2. If a safekeeping agreement has been concluded, the bank will immediately respond that it is stored in the safe deposit box. In the case of a lease agreement, the bank will open the box, describe the contents and send the inventory report to the notary.

3. The heir must obtain a certificate of inheritance from a notary and bring it to the bank. With this document and passport he will be able to receive valuables.

But it’s worth keeping in mind: the bank may require evidence that the valuables in the locker belonged to its tenant. After all, theoretically, a person could put other people’s things there - for example, a Faberge egg, which an old friend bought at an auction and asked to keep it for a while.

If the bank gives this jewelry to the heirs, and then its real owner shows up with a receipt for the purchase and a receipt saying that he gave it to a friend, the bank will be in big trouble. The court may order the bank to return the property to the owner or compensate its value.

Therefore, sometimes banks play it safe and, if the heirs cannot provide proof of ownership, they keep the item for indefinite storage.

Features of renting at Sberbank

IP ensures complete security of storing documents and valuables and allows you to complete a transaction for the purchase/sale of real estate and land.

IP lease has the following features:

There is no deposit required to provide the key;
Access to the client terminal can be provided by the tenant's own card, which has a magnetic stripe. When a bank issues a card, it can change the PIN code at its discretion.
If necessary, a machine is provided to check and count money;
The bank has a long operating day, during which the client can use the information system at any time, 30 minutes after the opening of the branch. Admission ends half an hour before the closing time.

The tenant must vacate the safe at the end of the contract. If 20 days have passed since closing and the client does not show up, the safe will be opened. In advance, the bank informs the tenant about the expiration of the contract and possible consequences by sending an SMS message or letter to the email address within 5 days after the end of the contract. If the client has not responded to the message, a special commission is formed, which opens the safe and draws up a report listing the contents. Investment items are packaged, sealed and placed in the bank's vault. When the tenant appears, he will need to pay a fine for restoring the IP and rent for an additional 20 days of using the cell beyond the period established by the contract. Once opened, rental payments cease.

If the tenant dies, his heirs receive access to the safe. You will need to submit a notarized document confirming the right of inheritance. To receive the contents of the cell, the notary must generate a request to open an IP.

pros

Safety . The bank has a multi-stage protection system. A safe deposit box is a metal safe in a room with an armored door, security, alarm and video surveillance. So storing valuables here is much safer than at home, although risks still remain. After all, Ocean and his friends can be met in everyday life.
Property safety . The contents of the box are your property, not the bank's. Even if the bank’s license is revoked, the safe deposit box will not be opened without you, and the valuables will be returned to you in their entirety - the limit of 1.4 million rubles does not apply to what is stored in safes. And your valuables in the safe deposit box are not taken into account when calculating compensation from the DIA if you had an account with the same bank. You will receive your treasures back within a few days.
Bank secrecy regime . The bank has no right to disclose to outsiders information that you have a safe deposit box and what is in it. An exception is the requirement of the Ministry of Internal Affairs, the FSB or the court.

Transferring money to the seller “in hand” before registering the transaction is unsafe

Some of my colleagues insist that without any safe deposit boxes, buyers spent their entire lives handing over money to sellers and everything went fine. I think so - if you can further protect yourself, then you shouldn’t waste money on it. Moreover, the sellers themselves willingly agree to the option with a safe deposit box, because the bank protects the interests of both parties.

If sellers insist on receiving the money “in hand,” for example, after submitting documents to the MFC or the Federal Registration Service, and not after registering the transaction, then I would think a hundred times about buying such an apartment. As a last resort, it is better to send money by bank transfer and be sure to obtain a receipt from the seller confirming receipt of money (sample).

Risks

Theft . The probability is extremely low, but still there. If you have entered into an agreement for safekeeping of valuables , the bank will return the value of these valuables. But if this is a rental agreement , you will have to prove in court what exactly was stolen from the locker. Plus, the agreement with the bank may provide for compensation if the cell is robbed. But this condition does not always exist, and even if it does, the compensation may be very small.
Breach of confidentiality . In exceptional cases, the bank has the right to open a safe deposit box without a tenant and describe the contents. These include natural disasters and emergencies, such as an earthquake or terrorist attack. But much more often this happens when the owner of the cell simply forgets to renew the contract. If you do not want to advertise what is stored in the locker, carefully monitor the rental period.
Damage to valuables . For example, you did not pick up your things on time and the bank, while transferring your jade figurines from the cell to the storage room, dropped one on the way. By law, in this case, the bank is obliged to fully reimburse you for the cost of this property.
Seizure . By decision of the court or with the permission of the prosecutor, the cell can not only be opened, but also everything stored in it can be confiscated. This, of course, does not threaten law-abiding citizens.
Fines . If you damage the cell, lose the key or do not return it on time, the bank will retain the deposit. Sanctions are also threatened if you do not vacate the cell on time and do not renew the contract. The bank will require an increased fee for storage beyond the term - the cost of rent plus a penalty (often in the same amount as the rent itself). In addition, the bank may charge a fine for each day of delay.
Fraud . The bank does not check the legality of your transaction and does not examine the authenticity of the documents that the seller brings. Therefore, we cannot exclude the possibility that fraudsters will gain access to the deposit box using counterfeit papers. Although in the case of real estate transactions, banks most often make an additional request to Rosreestr to make sure that ownership rights have transferred to the buyer.

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Payments through a notary

When completing a transaction for the purchase and sale of an apartment through a notary, the parties to the agreement, with the consent of the notary himself, can make non-cash payments with him. Since 2015, after the entry into force of Federal Law No. 457-FZ (see paragraph 4 - here), notaries have been given official authority to provide services for the deposit of funds for settlements on transactions (including real estate).

An open deposit of a notary allows him to make payments for the purchase and sale of an apartment through his bank account , i.e. accept money from the Buyer before registering the transaction, and transfer it to the Seller’s account after registration. The conditions for transferring money from the Buyer to the notary's deposit, and the conditions for issuing it to the Seller, are established in a separate Cash Settlement Agreement , which the parties sign together with the Apartment Purchase and Sale Agreement. The essence of this Agreement is the same as that of the additional agreement to the lease agreement for a safe deposit box (see above).

The cost of settlement through a notary's deposit is only 1,500 rubles, subject to certification of the Apartment Purchase and Sale Agreement by him. But you also need to keep in mind that banks usually charge a commission for transferring money from the Buyer’s account to the notary’s deposit account, and an even larger commission for the Seller withdrawing money from their account.

The possibility of cash payments through a notary's deposit is enshrined in the law in Article 327 of the Civil Code of the Russian Federation. True, paragraph 3 of the same article 327 allows the Buyer to withdraw his money back from this deposit at any time. To prevent this from happening during the registration process of the transaction, the parties to the contract should (again with the help of a notary) write down in the Settlement Agreement clear and unambiguous conditions in which cases the Buyer can take his money back. For example, only if registration was refused, or if registration did not occur within, say, 45 days (i.e. if the transaction did not take place).

More details about the method of transferring money through a notary deposit are described in a separate note at the link.

This notary service greatly facilitates mutual settlements for a real estate transaction (including an alternative transaction), because not only eliminates the need to draft and sign a number of agreements and conditions (for rent and access to a safe deposit box, for example), but also allows you to carry out the entire transaction (including mutual settlements) in one place - the notary’s office.

A minor child in an apartment purchase and sale transaction. What to do? See the corresponding step of the Instructions.