UAE Commercial Transactions Law

Article 507 — Article (507)

Book Three: Banking Transactions · Part Seven: Rental of Safe Deposit Boxes

1. A precautionary and executory attachment may be levied at the contents of the safe deposit box. 2. The attachment shall be levied by notifying the bank of the contents of the writ by virtue of which such attachment is levied, as well as requiring the bank to state whether it has rented out a safe deposit box to the attached person. Upon receiving such notice, the bank shall forthwith prevent the attached renter from using the box and promptly notify him that the attachment is levied at the safe deposit box. 3. Where the attachment is precautionary, the renter may request the court to lift the attachment from all or part of its contents. 4. Where the attachment is executory, the bank shall open the safe deposit box, empty its contents, in the presence of the attaching person and the execution officer, and notify the renter of the date scheduled for opening the safe deposit box. On the scheduled date, an inventory of the box contents shall be made, and such contents shall be delivered to the bank or the trustee appointed by the court until they are sold in accordance with the procedures set by the court. 5. Where the safe deposit box contains papers or documents not included in the compulsory sale, they shall be handed over to the renter. However, if the renter is not present at the time of opening the box, such papers or documents shall be delivered to the bank for safekeeping after placing them in an envelope sealed with the stamps of both the execution officer and the bank delegate, until they are requested by the renter. 6. The attaching person shall pay the bank a sum sufficient to secure the rent of the safe deposit box for the attachment period.

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