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2 Answers | Asked in Real Estate Law, Banking and Business Law for California on
Q: Real Estate: Judges, Home Mortgages and Legal Definitions

Do judges take legal definitions into consideration in court cases?

What is the legal definition of co-signer?

What is the difference, in relation to a home mortgage, between a co-signer and co-borrower?

James L. Arrasmith
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answered on May 18, 2024

Yes, judges do take legal definitions into consideration when deciding court cases. Legal definitions are important because they provide clarity and consistency in the application of the law. Judges rely on these definitions to interpret statutes, contracts, and other legal documents.

In...
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2 Answers | Asked in Real Estate Law, Banking and Business Law for California on
Q: Real Estate: Judges, Home Mortgages and Legal Definitions

Do judges take legal definitions into consideration in court cases?

What is the legal definition of co-signer?

What is the difference, in relation to a home mortgage, between a co-signer and co-borrower?

Delaram Keshvarian
Delaram Keshvarian
answered on May 19, 2024

Thank you for your question!

First, The court considers the intent of the parties in the mortgage agreement. If the intent can be impliedly or expressly defined from the agreement, that meaning governs.

If there is no definition, the court will look at the custom in the industry,...
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1 Answer | Asked in Contracts and Banking for Maryland on
Q: Does the dawer of a negotiable instrument such as a check have the right to get the amount even if it’s not in the acc?

A bill of exchange such as a check is payable on demand and if it isnt, the bank is obligated to pay it according to the Bill of Exchange correct?

Kenesha A Raeford
Kenesha A Raeford
answered on May 15, 2024

In your specific example, with a check, the answer is almost always no. I don't know of any bank that would issue payment to a check payee when there are insufficient funds in the account. When a customer sets up an account with the bank they usually sign an agreement that entitles them to be... View More

1 Answer | Asked in Tax Law, Banking, Business Formation and Business Law for Arizona on
Q: We run a business overseas and want to create a LLC in order to use US Credit cards while paying no taxes in the US

We run a business in Cyprus ( oversea). Can we create an entity in the US(LLC) in order to use this entity to sign up for an American Express Business Platinum Account. Since I am already an amex user in the US, I can transfer my credit history to my business account.

Our business is doing... View More

James L. Arrasmith
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answered on May 14, 2024

As a foreign business, it's important to carefully consider the legal and financial implications of setting up a US entity solely for the purpose of obtaining credit cards, especially if the intent is to avoid taxation. This could potentially be viewed as tax evasion by US authorities.... View More

1 Answer | Asked in Consumer Law, Immigration Law, Banking and Internet Law for Washington on
Q: Illegal way

If I wanted to get a test result in an illegal way, but I was deceived, I transferred money but never received a result, you can send this to ic3. In fact, I have not yet broken the law.

James L. Arrasmith
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answered on May 12, 2024

I'm sorry to hear that you were deceived and lost money in this situation. Being scammed is awful and I empathize with how frustrating that must be. Even though you did not end up breaking the law, attempting to obtain test results illegally is still ill-advised.

If you believe you...
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1 Answer | Asked in Consumer Law and Banking for California on
Q: Can my bank take 90 days to investigate an error even though my account isn't new? Do they have to give me temp credit?

I did a transaction for $795. The merchant claimed they didn't receive payment, but I was charged and my bank says the transaction was successful. I did a 3 way call with the merchant and my bank and it was made very clear that there was an error with the payment from my account. The merchant... View More

James L. Arrasmith
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answered on May 10, 2024

Under the federal Electronic Fund Transfer Act (EFTA) and Regulation E, which also apply in California, your bank generally has 10 business days to investigate an reported error, not 90 days. They must resolve the issue within 3 business days after completing their investigation.

Since you...
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1 Answer | Asked in Land Use & Zoning, Real Estate Law, Banking and Landlord - Tenant for California on
Q: I have a document of thee FDIC. It states BMO Bank National Association (Certt#16571) what am I suppose to do with it?
James L. Arrasmith
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answered on May 7, 2024

If you have received an FDIC certificate for BMO Bank National Association (Cert #16571), it means that your deposits with this bank are insured by the Federal Deposit Insurance Corporation (FDIC) up to the maximum amount allowed by law, which is currently $250,000 per depositor, per insured bank,... View More

2 Answers | Asked in Banking and Consumer Law for California on
Q: Credit card dispute

◦ I applied for affordable housing and paid the required deposit. The agency reviewed my income and bank statements. However, they unexpectedly requested access to my “IRA retirement account,” which I consider confidential. I asked if I could hide the account number, but they rejected this... View More

James L. Arrasmith
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answered on May 7, 2024

In this situation, you have a few options to consider:

1. Dispute the charge with your credit card company: If you paid the deposit using a credit card, you can file a dispute with your credit card issuer. Explain that you were verbally assured of a full refund if you didn't qualify...
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1 Answer | Asked in Banking, Estate Planning and Probate for Connecticut on
Q: Hi, I have a question about joint bank account after a parent passes away.

My Father added my name on 2 of his bank accounts so I can write out the checks for him after my Mom passed away, he has now passed away and my Brother is the Executer of the will. Since I am the Joint owner on those 2 accounts, can he access that money? The Will states that he got certain items... View More

Nicholas Arthur Matlach
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answered on May 3, 2024

Here's some information based on Connecticut law, but please remember to consult an estate planning attorney for advice on your specific situation:

- Joint Ownership & Right of Survivorship: In Connecticut, joint bank accounts with the right of survivorship are generally presumed...
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1 Answer | Asked in Tax Law, Banking and Employment Law for Texas on
Q: I was on ADP when I noticed a stub that I never received for 11,000 is there a reason

Happened November last year also no W2 just want to know why someone would do that

James L. Arrasmith
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answered on May 3, 2024

Hi there! I can provide some general guidance on why there might be a discrepancy and what you can do about it.

Reasons for a payroll stub without receiving the funds:

1. Administrative error: It's possible that a clerical mistake resulted in the generation of the stub without...
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1 Answer | Asked in Banking, Business Law, Consumer Law and Contracts for Texas on
Q: BCHAPTER III - CREDIT REPORTING AGENCIES Sec. 1681i - Procedure in case of disputed accuracy.. how to check

I might have a case for this but I wanna make sure...

Matthew McKenna
Matthew McKenna
answered on Apr 26, 2024

In order to get procedures from a credit reporting agency, you'll likely need to sue them and ask for the procedures in discovery. They will likely only hand them over under a protective order. I would contact a consumer protection attorney that is familiar with the Fair Credit Reporting Act.

1 Answer | Asked in Tax Law, Banking, Civil Rights and Small Claims for South Carolina on
Q: How long do I need to be in possession of a car to take legal ownership of it?

-I bought a car from a private seller through the facebook marketplace.

-I purchased the car with an auto loan through Navy Federal Credit Union.

-When I went to register the car, the DMV stated that the VIN number on the title did not have any records (the car had been VIN... View More

James L. Arrasmith
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answered on Apr 25, 2024

I'm sorry to hear about your difficult situation with the car. Unfortunately, under California law (and the laws of most states), you would not have a legal right to keep the car even after possessing it for two months.

There is no time period after which you can claim legal ownership...
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2 Answers | Asked in Real Estate Law and Banking for California on
Q: Can Wells Fargo demand a balloon payment on my mortgage in California
James L. Arrasmith
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answered on Apr 23, 2024

In California, it is uncommon for traditional fixed-rate or adjustable-rate mortgages to have a balloon payment requirement. However, there are a few scenarios where a balloon payment might be required:

1. If you have a non-traditional mortgage, such as an interest-only loan or a short-term...
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2 Answers | Asked in Real Estate Law and Banking for California on
Q: Can Wells Fargo demand a balloon payment on my mortgage in California
Delaram Keshvarian
Delaram Keshvarian
answered on Apr 29, 2024

Thank you for asking the question!

Balloon payments are severely restricted after 2013, however they are still being used for some types of loans such as Permanent loans.

Permanent loans are payable on demand or on a fixed maturity date (that are not construction loan).

1....
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1 Answer | Asked in Estate Planning and Banking for Wisconsin on
Q: What do I do with a Living Trust that I am named in, forwarded to me from a family member in 2023. My Uncle passed away

In 2012. I had no idea he named me in his Trust!

James L. Arrasmith
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answered on Apr 21, 2024

If you have been named in your late Uncle's Living Trust, which was forwarded to you by a family member in 2023, there are several steps you should take:

1. Read the Trust document carefully to understand your role and the assets you are entitled to receive.

2. Contact the...
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1 Answer | Asked in Consumer Law, Contracts, Banking and Civil Litigation for Ohio on
Q: Can an attorney assess Capital One's actions regarding my accounts, including the abrupt cancellations, and my auto loan

Can an attorney thoroughly evaluate Capital One's actions regarding the sudden cancellation of my checking and savings accounts, as well as their handling of my auto loan, to determine if there are grounds for pursuing legal action against the company? Specifically, I'm concerned about... View More

James L. Arrasmith
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answered on Apr 21, 2024

Yes, an attorney who specializes in consumer protection law, banking regulations, and contract law can thoroughly assess Capital One's actions regarding your accounts and auto loan to determine if there are grounds for legal action. Here are some key points to consider:

1. Account...
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1 Answer | Asked in Banking for Pennsylvania on
Q: 4/2/24_M&T Bank deliberately posting an dishonest, mislead deposit transaction. I wrote M&T 3 times,

I received responses from "Customer Advocacy. Who upheld the decision to keep the deposit documented. I deposited my check from my pension fund. Originally the check was drawn from ICRMA. However, I held on to it so long, they wrote me and told me that I would have to have to get re-issue... View More

James L. Arrasmith
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answered on Apr 21, 2024

Based on the information you've provided, it seems that M&T Bank's posting of the deposit transaction as simply "DEPOSIT $40,000" without indicating the source of the funds is causing you legal concerns. While I understand your frustration, it's important to note that... View More

1 Answer | Asked in Contracts, Employment Law, Estate Planning and Banking for Texas on
Q: Statues of limitations where do I send annuity checks that were written 2010?

I called Nationwide Bank to get canceled checks of my annunity checks that were cashed by someone else in June of 2010. The representative at Nationwide bank told me I had to report it to the Department of Labor, I called DOL, I was told they didn't handle this. Can anyone tell me who I can... View More

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answered on Apr 21, 2024

I apologize for the confusion and difficulties you are facing regarding your annuity checks from 2010. Here are a few steps you can take to address the situation:

1. Contact the annuity provider: Reach out directly to the company that issued the annuity. They should have records of the...
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1 Answer | Asked in Banking for Indiana on
Q: me and my ex broke up car loan my name first his 2nd can i go get it from him if i am the primary loan holder indiana
James L. Arrasmith
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answered on Apr 21, 2024

Based on the information you provided, it seems that you and your ex had a car loan together, with your name listed first on the loan and your ex's name listed second. The car is currently in your ex's possession, and you are wondering if you can retrieve the car from him since you are... View More

1 Answer | Asked in Banking on
Q: If somebody paid money into your business account and only let you know 2 weeks later of this and some was used

Its a business account and stoporders and monies goes in and out. And i paid some back when i became aware of it. Now they threaten me with legal action

James L. Arrasmith
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answered on Apr 21, 2024

If someone paid money into your business account without informing you in a timely manner, and you inadvertently used some of the funds, the situation can be complex. Here are a few steps you should consider taking:

1. Document the situation: Gather all relevant information, including the...
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