Is a Joint Account Holder Liable for the Debt of the Other Account Owner?
Full Question:
Does having a joint checking account with someone in any way legally make you liable for the other parties debts or leins?
08/16/2010 |
Category: Debts and Credit |
State: Oregon |
#22920
Answer:
If the account is joint and has the name of the individual who owes money to the creditor, that creditor can attach a judgment lien to it. That includes joint accounts with the spouse, and joint account with children or parents, or any third party so long as that party shares that particular account with the debtor.
Please see the infornation at the following link for further discussion:
http://www.bankrate.com/brm/news/chk/20051026a1.asp
