Legal Question in Banking Law in Arkansas
joint account
I have been on my mothers checking account for 20 years(father deceased). What liability would I have if she bounced checks,filed bancrupcy, or defaulted on mortgage note? My name is not on anything else.
Asked on 3/16/07, 12:38 pm
1 Answer from Attorneys
David Anderson
Anderson Business Law LLC
Re: joint account
As a jt acct holder you will likely be held liable for bounced checks. I would need to see the acct agreement.This is different from a POA which I recommend for convenience w/o liability.
Answered on 3/16/07, 1:01 pm
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