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Liens Placed on Multiple Accounts
Can a bank place a lien on both a business and a personal account if the transaction was only on the personal account?
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 The bank can place a lien, a hold actually, on deposits owned by someone who owes them money, or as directed by a court. In the latter they have no choice. In the former, they are trying to collect money owed to them. The hold should be temporary, followed by a withdrawal where the funds are paid against the loan.
As for whether both a personal and business account can be affected, that will depend on the ownership of the accounts. If the business account is owned by an individual as a sole proprietor, it's treated just as if were the individual's personal account. On the other hand, if the obligation owed by a business that is a partnership, corporation, or limited liability company (LLC), the "lien" or hold should be placed only on the business account.
Published on BankingQuestions.com 6/27/07
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