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Home >> Lending >> Vehicle Loans
Bank Allows Separated Husband to Open/Close Account
My husband, from whom I've been separated from since 4/10, refinanced a vehicle with my name on it, and had it put in his name without my signature. The loan was with a local bank, and when the banker initially loaned the money for the vehicle, the loan was in both our names using the "or" status between them. He also cashed CDs that were for our children and both our names in the "or" status. All this was done without my signature or approval. Is that legal?
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 If your husband had no legal authority to remove your name from the title of the vehicle, he has effectively stolen your half. You'll need to consult a lawyer familiar with your state laws on this issue.
As to the deposit accounts, if they were owned by "A" or "B" (or being the operative term), either of the owners has the authority to transact business on them, including cashing them in. If your separation papers don't address rights and responsibilities there likely isn't any wrong done here, other than morally.
Published on BankingQuestions.com 10/13/10
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