A system and method for retrieval and transfer of encrypted content from a first set-top box utilizing a second set-top box. When content is recorded to the storage device of the first set-top box, the content is encrypted with a content instance key. This content instance key is encrypted with the public key of the first set-top box and a duplicate of the content instance key is encrypted by the public key of the second set-top box. The encrypted content on the storage device may be retrieved by decrypting the duplicate content instance key with the private key that corresponds with the public key of the second set-top box that encrypted the duplicate of the content instance key.