No. A creditor that wants to freeze the assets in a bank account must seek and be granted a court order. The order must then be served on the bank.
It depends on how you are "on it". If you are a joint-account owner, then yes they can freeze that account. If you are listed as the guardian of the child (therefore the account is in the child's name, but you control the account) then no they cannot freeze it.
Yes. You can very well do that. It is your account and if you no longer wish to be a part of it, you can remove your name from the joint account. All you need to do is, visit the bank and submit a request in writing reg. the same. The bank will take 2-3 days to complete your request and then you will no longer be a joint holder of that account.
TD Bank, like many other banks, will not allow you to remove a name from a joint banking account. In order for the name to be removed, the other person must agree to it first.
Absolutely ! You don't need to be living at the same address to have a joint bank account with someone. You both just need proof that you're living at your address, and any other proof of identity the bank asks for.
Generally a bank will notify both parties of the issue before freezing account. However, if they feel that it is fraud related they do not have to notify either parties before freezing the account.
It depends on how you are "on it". If you are a joint-account owner, then yes they can freeze that account. If you are listed as the guardian of the child (therefore the account is in the child's name, but you control the account) then no they cannot freeze it.
It is possible for Revenue Canada to freeze a person's bank account. This includes both single and joint bank accounts.
The surviving joint owner is the sole owner of the account and can maintain it or close it. That is the reason for having a joint account.
Yes they can!
In the state of North Carolina, it is very hard to seize a bank account. When an account is joint, it can not be seized unless the debt is the debt of both parties.
They also become a joint holder or owner of the bank account and the account becomes a joint account. You and the other person you put into the account can operate the account independently and can carry out transactions like deposit, withdrawal, balance inquiry etc.
A Joint Savings Account is when two people have joint access to the savings account. If a Wife and Husband, Boyfriend and girlfriend, parents and child open a Joint Account then "either" one of them can access ALL the money in the account. If one of them is involved in an illegal activity the Police can freeze the WHOLE account and "can" take ALL the money. It would be up to you to prove the money didn't come from the illegal activity. (Actually they would freeze separate accounts in the same household also) Good and bad parts are you both can access the money as needed, but the other person can "empty" the account with out your say so.
A Joint Savings Account is when two people have joint access to the savings account. If a Wife and Husband, Boyfriend and girlfriend, parents and child open a Joint Account then "either" one of them can access ALL the money in the account. If one of them is involved in an illegal activity the Police can freeze the WHOLE account and "can" take ALL the money. It would be up to you to prove the money didn't come from the illegal activity. (Actually they would freeze separate accounts in the same household also) Good and bad parts are you both can access the money as needed, but the other person can "empty" the account with out your say so.
Yes. You can very well do that. It is your account and if you no longer wish to be a part of it, you can remove your name from the joint account. All you need to do is, visit the bank and submit a request in writing reg. the same. The bank will take 2-3 days to complete your request and then you will no longer be a joint holder of that account.
Yes, if a creditor wins a lawsuit and is granted a judgment, said judgment can be enforced as a bank account garnishment. A joint account (even a marital one) is subject to attachment to the extent of the debtor's share.
Yes, in certain situations, an attorney may be able to obtain a court order to freeze a joint checking account in New York as part of legal proceedings. This is typically done to prevent the depletion of assets that may be subject to a legal dispute or judgment. Both account holders will be affected by the freeze.
TD Bank, like many other banks, will not allow you to remove a name from a joint banking account. In order for the name to be removed, the other person must agree to it first.