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The Legal Issues of Closing Joint Savings Accounts

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Question: 
A husband and wife have a joint passbook account, the husband comes in and says he lost the book and wants to close the account. The customer wants two checks made payable to each of them individually. The customer signs a lost passbook affidavit. The check is then cut and one is made payable to the husband, the other to the wife. Is there a legal issue in doing this?
Answer: 

None that I can see. The husband has the right to make withdrawals by himself, right? There may be some friction between the two, but I think you've got your bases covered.

First published on BankersOnline.com 3/13/06

First published on 03/13/2006

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