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Infolawyer
Infolawyer, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 53852
Experience:  Licensed attorney helping individuals and businesses.
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My brother had a financial institution execution (JD-CV-24)

Resolved Question:

My brother had a financial institution execution (JD-CV-24) against him. He does not have any money in his account. However, in one of my bank accounts where he is listed as co-signer, the marshal got execution. The bank is now holding the money.

That account was opened by my wife and I. He was later added on the account for some reason I don't remember. I guess he needed to show some financial standing at that time. We could not take his name off of the account because that bank's policy does not allow names to be removed from accounts. The only choice we had was to close the account and open a new one, which we did not do.

My brother has never deposited any money in this account and he has never written any checks against this account, he does not have any access to this account whatsoever.

Does he have any basis to claim exemption? Do my wife and I have any recourse to get our money out of the judgment?

If yes, how? If no, then why not?

Thanks
Submitted: 3 years ago.
Category: Consumer Protection Law
Expert:  Infolawyer replied 3 years ago.
Hello and thank you for the question.
The levy as a general rule is proper where his name is XXXXX XXXXX account.
However one may void the levy by showing the other account holders deposited all funds. Courts will then seek to avoid an inequitable outcome and lift the levy.
Infolawyer and 2 other Consumer Protection Law Specialists are ready to help you
Customer: replied 3 years ago.
How to prove that the other account holders deposited all funds?
Customer: replied 3 years ago.
Can you refer to any previous case at the appellate or supreme court level?
Expert:  Infolawyer replied 3 years ago.
The determination is done on a case by case basis. Court looks to testimony, account deposits and judges credibility. Such cases typically don't get reported. They are often resolved with primary debtor confessing judgment or settling. Is the answer acceptable?
Customer: replied 3 years ago.
OK. Thanks
Customer: replied 3 years ago.
I have made 3-4 rental check deposits every month. How many months of deposit information will be required?
Expert:  Infolawyer replied 3 years ago.
This varies but 1 year would be reasonable and common practice.
Customer: replied 3 years ago.
Ok. Thanks
Expert:  Infolawyer replied 3 years ago.
Very welcome.

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