I hate asking this question ...but I am in a quandry and need some advice. Here is the situation:
CD owned by "A" and "B" (Joint tenants with rights of survivorship)
"A" comes in and takes a loan with the CD as collateral.
Does "B" need to sign a Third Party Pledge Agreement?
I believe we would have "B" sign the Third Party Pledge to perfect our interest in the collateral.
It is our practice to get this done; however, I am getting some STRONG pushback from the new "powers that be." They would like to see it in writing, blah, blah, blah.
Can someone give me guidance?????