Answer:
Answer by John Burnett:Your last chance at that piece of pie disappeared at the moment of the account oowner's death, because your debtor (the decedent's estate) has no legal claim to the checking account.
Answer:
Answer by Ken Golliher:If a little Latin would help convince your co-workers, the account passed to the co-owner eo instante, at the moment of death. If you attempt to take the money from the new owner he may end up being one of your new shareholders; i.e. he could and should sue you. He will win.
Banks exercise the right of offset when they either 1) know what they're doing or 2) have an unsatisfied appetite for risk.
First published on BankersOnline.com 12/13/10
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