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Redeemed CDs without Wife's Knowledge

In 2002, my husband cashed in two 100,000 CDs without my knowledge or signature. Who is at fault, and can I get any retribution at this late date?


That this matter remains unresolved six years after the fact may be a real problem for you. A lot will depend on how the accounts were set up, and what, if anything, you have done since they were cashed in to assert a claim.

If those accounts were set up as joint accounts, in your name and your husband's, it would be normal for the account ownership to be a "joint tenancy with right of survivorship." It would be unusual to have the account set up with a requirement that both joint owners would have to issue withdrawal or redemption instructions.

Joint tenancy with survivorship means that either of you would have had the right to close the account without the other's involvement. Whether that violated any agreement between you and your husband would not be a matter for comment here. If you think your interest in the CDs has been violated, you need to talk to an attorney.

Published on BankingQuestions.com 11/05/08