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Who Can Take Money from Joint Accounts?

I have two personal and one business account, all three are joint accounts with my ex-fiance. Can he sue me for taking money out of those accounts? He has since taken the rest of the money out of these accounts, is he allowed to do that without giving me half?

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As long as the accounts are jointly held on the bank's books, each of you has the right to withdraw all of the funds. The bank can't pick and choose whose withdrawal requests or checks will be honored.

If funds in the accounts should be allocated between you and your former fiance, sort things out and close out those old accounts, each of you taking what is due him or her. Do this before things escalate out of control and you have to drag your disagreement into court. For the future, remember that when you open a joint account with someone, you each agree that the pool of funds in the account can be drawn from by either of you regardless of who put which funds into the pool.

Published on BankingQuestions.com 12/09/08