Legal Question in Banking Law in California
If a bank deposits money in your account that you do not know of the origin, is it yours to keep?
Asked on 1/25/11, 11:30 am
1 Answer from Attorneys
Michael Stone
Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE
It's not legally yours. Usually they will figure out the error and debit the account. But sometimes not. Maybe somebody with bad handwriting filled out a deposit slip. If you were to wait until the statute of limitations expired (three years or more) you would be entitled to keep the money.
Answered on 1/27/11, 2:06 pm
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