My boyfriend and I own a house together (both names on title and mortgage). The bank allowed him to have the automatic monthly payment transferred from our joint checking account to his individual savings account without my permission. Can they do this?
Joint bank accounts enable any of the account holders to deposit, withdraw or transfer funds into, out of or between accounts without the written consent of the other account holders, said family law attorney Maureen Kinney. As long as his name is on both accounts, he can move the money around however he chooses — and, of course, so can you.
Information provided by Maureen Kinney, La Crosse attorney at Johns, Flaherty & Collins, SC.