SSNL [cheese] thread: JULY (nc)

[ajmargarine]

The endorsement on a personal check would be a signature on the back. On a business related check, it's the stamp the business puts on the back.

[Mercman572]

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The endorsement on a personal check would be a signature on the back. On a business related check, it's the stamp the business puts on the back.

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And what if the check was cashed without either of those?

[Pokey]

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I'm in a bit of a predicament, does anyone know anything about contract/real estate law?


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Nothing, and that's not a good start. I hope your problem isn't as serious as it sounds.

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And what does it mean if a check was cashed without being endorsed?


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If you mean "what is the definition," it means that the person who cashed the check did not sign the back. If you mean "what are the ramifications," I couldn't begin to tell you. If there's no signature, the bank definitely screwed up, at the very least.

[ajmargarine]

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The endorsement on a personal check would be a signature on the back. On a business related check, it's the stamp the business puts on the back.

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And what if the check was cashed without either of those?

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idk.

[Mercman572]

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Nothing, and that's not a good start. I hope your problem isn't as serious as it sounds.

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I hope so too. What happened is, the bank foreclosed on the landlord for my house at school after I had paid him $1350 of my rent. Another woman just purchased the property. I don't know how binding my lease contract is, and I've received only an e-mail saying to call her to speak about my security deposit and rents. If she is having problems gettimg my money fromt he old landlord (which I believe is the case), I don't believe that that is legally my problem.

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If you mean "what are the ramifications," I couldn't begin to tell you. If there's no signature, the bank definitely screwed up, at the very least.

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This is what I mean.

[tkkjsoup]

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I'm in a bit of a predicament, does anyone know anything about contract/real estate law?

And what does it mean if a check was cashed without being endorsed?

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Sorry if my inside joke detector is dysfunctional, but if your questions are serious, the answers are:

1. Yes.

2. Consequences are different depending upon which person's perspective you care about. (i.e. consequences for bank are different from consequences for account holder, and consequences for payee are different and consequences for check-casher and payor bank are still different).

[yad]

Wow, this does not sound good. Where do you live? The laws on these sort of things are very heavily location-dependent.

[ChipStorm]

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I hope so too. What happened is, the bank foreclosed on the landlord for my house at school after I had paid him $1350 of my rent. Another woman just purchased the property. I don't know how binding my lease contract is, and I've received only an e-mail saying to call her to speak about my security deposit and rents. If she is having problems gettimg my money fromt he old landlord (which I believe is the case), I don't believe that that is legally my problem.

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Not much hard legal advice here Merc, just some "I've been through similar" advice....

On the endorsement thing, checks to businesses just have to be deposited into accounts for those businesses, no signature or formal/official stamp is required on the check. (I deposit such checks, with nothing but a stamp I had made at Staples.) I'm not a lawyer, but I wouldn't be surprised if no mark at all is legally required. Can't say at all for personal checks. But in any case, an officer of the bank can certainly tell you for sure, and that's where you should go for the answer.

On the lease, there is a very good chance that foreclosure and transfer of ownership of the property will void your lease, and if that's the case, then recovering your money from the former landlord may well be your problem. There are legal advice websites where you can probably get a quick answer to this one.

IMO, make nice with the new landlord. A situation like this completely and totally sucks, but you don't want to make it worse by going to war with someone over the money until you have your facts and legal arguments 100% straight. She will not want to lose the easy money of a tenant already in place, you want a place to live, and the hours you could burn on the legalities if it comes to a fight could make recovering your cash pay like minimum wage. So whatever she says, find a way to make a deal.

[Mercman572]

Tkk,
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Sorry if my inside joke detector is dysfunctional, but if your questions are serious, the answers are:
1. Yes.

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Unfortunately, I'm not joking. Before you posted, I detailed the situation but I don't know if you saw it. My main questions of concern are:

1. Since I had a legal and valid contract, is the new landlord forced to assume that contract as she knowingly purchased a foreclosed rental property? If so, is it the bank's responsibility to retrieve the money that I paid the old landlord (rather than mine) while he was legally entitled to it?

A lawyer was appointed collector of rent by the court while the house was being resold by the bank. He said he didn't have much info about the case, but believes that since we weren't served at any time prior to the foreclosure, that our contact remains valid and that the bank was trying to recoup our rent money from the old landlord.



Chip,
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Not much hard legal advice here Merc, just some "I've been through similar" advice....

On the lease, there is a very good chance that foreclosure and transfer of ownership of the property will void your lease, and if that's the case, then recovering your money from the former landlord may well be your problem.

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This would totally suck. I am not well versed in law yet, but I've taken a few courses and this doesn't seem to be the way logic behind contract law works: It would lead to the reductio adsurdum that by foreclosing on his property, the BANK FORCED the landlord to break a legal and valid contract.

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A situation like this completely and totally sucks, but you don't want to make it worse by going to war with someone over the money until you have your facts and legal arguments 100% straight. She will not want to lose the easy money of a tenant already in place, you want a place to live, and the hours you could burn on the legalities if it comes to a fight could make recovering your cash pay like minimum wage. So whatever she says, find a way to make a deal.

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Well, I definitely want to know what can legally happen before I talk with this woman so I know how assertive I can be.

[Mercman572]

bump