Legal Question in Civil Litigation in Michigan
Business Accounts
Can a business account for a business ever be considered a joint account with someone you live with if the account was only used for business expenses, and the other person who was a signer but not an owner of the company never contributed any funds to the account.
Asked on 4/29/09, 2:24 pm
1 Answer from Attorneys
William Stern
William Stern, P.C.
Re: Business Accounts
It's complicated. There is a statute giving the joint signer a p[resumption in his or her favor. It is possible to rebut that presumption of a joint account but you have to have some good evidence. As far as the bank is concerned, the bank can rely on the signature cards. William S. Stern
Answered on 4/29/09, 4:22 pm
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