There was a check issued to another person and me for escrow clearing on a house that we sold. We were not married. The check was sent to the other person and he cashed the check with just his signature and "for deposit only."
Is this legal since I never got my share of the funds? The bank and mortgage company say they aren't liable since the check was made out to the two parties with no "or" or "and." To me that does not seem fair or legal.
If the check was made out without an "and" or "&" between the names, it was capable of being negotiated by either of the two payees. Your complaint, therefore, is with the other payee on the check, who owes you whatever your share of the proceeds is.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
If the check was made out without an "and" or "&" between the names, it was capable of being negotiated by either of the two payees. Your complaint, therefore, is with the other 