Can they seize my grandmother’s account for my aunt’s unpaid amount? 14 Answers as of February 20, 2014

My aunt is on a joint account with my grandmother. My aunt is going to let the bank foreclose on her house.

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GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
Assuming the bank can offset against your aunt, yes they can seize the money in any account she has her name on (again, I have seen no docs, so I have to assume that the bank has the right to offset, based on how your question is worded).
Answer Applies to: Colorado
Replied: 2/20/2014
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
The creditors have to have a judgement to levy on any accounts. In California a foreclosure does not result in a judgement.
Answer Applies to: California
Replied: 2/13/2014
The Law Office of M Grater LLC
The Law Office of M Grater LLC | Mark O. Grater
In the State of Connecticut, a creditor can garnish a joint account even if just one of the account holders has the debt.
Answer Applies to: Connecticut
Replied: 2/13/2014
Stuart P Gelberg
Stuart P Gelberg | Stuart P Gelberg
Yes. It is not your grandmother's acct if it is a joint acct. There is a presumption that each party owns it all.
Answer Applies to: New York
Replied: 2/13/2014
Law Offices of Linda Rose Fessler | Linda Fessler
Yes they can. She may want to consider the possibility of a bankruptcy.
Answer Applies to: California
Replied: 2/13/2014
    Danville Law Group | Scott Jordan
    Is this related to a California property? Unless the bank performs a judicial foreclosure, the bank's only recourse is to foreclose on the house.
    Answer Applies to: California
    Replied: 2/13/2014
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    When a creditor obtains a court judgment, it allows the creditor to go hunting for any assets that may be available to pay off the judgment. A joint bank account looks like pretty easy pickings, and granny will have to go to court to prove that the money in the account is all hers. In the meantime, the account will be frozen, and it will be difficult for granny to pay her living expenses. Some people can take advice, others have to learn the hard way.
    Answer Applies to: Nevada
    Replied: 2/13/2014
    Stephens Gourley & Bywater | David A. Stephens
    If she is on the account she will be assumed to be an owner and any rights the bank has against her may be enforced against the account.
    Answer Applies to: Nevada
    Replied: 2/13/2014
    Deborah F Bowinski, Attorney & Counselor at Law | Debby Bowinski
    Your aunt should consult a lawyer. It depends upon where she lives and what steps the lender does or does not take after the foreclosure is completed. On the surface if things, the argument can be made that all funds in a joint account belong to each of the account owners. Sometimes that presumption can be overcome, but that is very fact specific.
    Answer Applies to: Colorado
    Replied: 2/13/2014
    Goldsmith & Guymon
    Goldsmith & Guymon | Marjorie Guymon
    Yes. If your aunt's name is on the account the account can be seized. I recommend having her name taken off the account if it is not her money in the account. If she has coming led her money in the account with your grandmother's money, she should withdraw her money and remove her name from the account.
    Answer Applies to: Nevada
    Replied: 2/13/2014
    Law Offices of Eric W. I. Anglin
    Law Offices of Eric W. I. Anglin | Eric W. I. Anglin
    Your grandmother may want to remove your aunt from the account. Additionally, your grandmother should identify all deposits into the account that are hers and all deposits that are your aunt's.
    Answer Applies to: Indiana
    Replied: 2/13/2014
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