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Dwayne B.
Dwayne B., Attorney
Category: Legal
Satisfied Customers: 32939
Experience:  Began practicing law in 1992
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I live in Maryland. My mom,brother and I are on a joint checking

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I live in Maryland. My mom,brother and I are on a joint checking account . My brother has spent quite a bit of money on house renovations that is going to be his after mom passes on. I removed money from the account and put it into a seporate account only in my name for my mom down the road since she has deminsia. I should ID and did all the proper protocal with the bank to do this transition. My mom when lucid, is OK with me holding that money for her ... the brother wants it returned. This is all of my moms life savings. Question : is there any legal recourse that brother could take to retreive the money. According to the bank the answer is no, that is "my" money and I could do what I want with it, so is that true?

JD 1992 :

No,the bank is wrong.

JD 1992 :

He could sue and ask the court to impose what is known as a "constructive trust" over the money and order you to put the money back into her account.

JD 1992 :

I'm not saying that is what will happen, of course, but it is certainly a possibility.

Customer:

even though my name is XXXXX XXXXX checking account and my mom is ok with it?

JD 1992 :

Yes, the name on the account doesn't restrict the court from imposing a constructive trust. If your mother told the court that she is okay with it then it isn't likely the court would grant it but your question was "is there any legal recourse" and the answer is yes.

JD 1992 :

The website is showing you are offline so I will exit so I can assist other customers. Please feel free to ask any follow up questions that you have in this thread. However, please don't issue a rating until our interaction is complete and all of your questions have been answered.

Customer:

last question He removed money from the account and put it in another account with her name on it. could I impose a constructive trust to have the money returned to that account?

JD 1992 :

You could file to have a contructive trust imposed on that money as well.

JD 1992 :

Please ask any follow up questions in this thread. When all of your questions have been answered, then I would ask that you give a Positive Rating (of course I'd suggest Excellent) since that is the only way I get credit for my work and also please consider clicking "BONUS" as a nice way of saying "thanks" for a job well done, although this is neither required nor expected. When looking at the answer I ask you to bear in mind I can’t control what the law is and whether it helps you, I can only tell you what it says, and I assume you want truthful information.


 


However, please do not issue a rating of any kind until all of your questions have been answered and please use the Reply button to ask additional questions or to provide answers to my questions.

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