Legal Question in Securities Law in New York

Re: joint stock account

First, you need to contact the brokerage firm and ask if they have a procedure to close a joint account, where one of the account holders wants to leave it open. Exhaust your administrative rememedies before going to court. I'm sure we could find a sleazy lawyer in NY who would represent you and take 1/3 of your equity. But do you want to throw that much away? I would recommend that you consider filing a complaint in the equivalent of Chancery Court to have the court order the brokerage company to dissolve the account. Are you prepared to take 50% or did you expect more? If you tell your former partner that you are willing to take 50%, and she can either take that now or go to court and possibly get less than that, then she might do the rational thing. If you weren't married, then it will be hard for a court to tell who put more into the account -- unless you have receipts. So a 50-50 split seems fair and reasonable.

Re: joint stock account

There are not enough details. The stock account is only worth 50k. If the joint holder refuses to lift the freeze, you are looking at litigation, which could be very time consuming. I am willing to discuss the matter with you at no charge - you can call me at (718) 638-2383 - but I need far more detail before I can determine whether I would accept the case. Please visit my website at www.GelberLaw.net.

Very truly yours,

Lawrence R. Gelber