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Iowa Banking Questions & Answers
1 Answer | Asked in Banking, Civil Litigation and Civil Rights for Iowa on
Q: Am I entitled to money on a joint account that was closed and taken out without my knowledge?

I had an account as a minor with one parent that had money coming in from social security from the death of my other parent. This account was closed after my 18th birthday with no money. Am I able to get any of the money back that my one parent took out of it?

James L. Arrasmith
James L. Arrasmith pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Dec 27, 2023

In Iowa, if you had a joint account with a parent that was closed and emptied without your knowledge, particularly after turning 18, your entitlement to the funds depends on several factors. Joint accounts typically grant equal rights to all account holders, meaning either party can withdraw funds... View More

1 Answer | Asked in Banking and Real Estate Law for Iowa on
Q: If I am on the deed/title to a home but not the mortgage, can I be forced to sell or move out my the mortgage holder?

My girlfriend and I have lived in a home together for 7 years in Iowa. We recently split up and I am living in the home. I am on home title/deed, but I am not on the mortgage. My ex is the sole mortgage holder. I am paying her the monthly mortgage. We have a written agreement that is notarized that... View More

Anthony M. Avery
Anthony M. Avery pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Oct 6, 2023

Girlfriend is not the mortgage holder. That is the lender and whoever signed the note is personally liable to them. Whoever signed the mortgage is the mortgagee. The mortgage probably has a due on sales clause which might be violated by executing your agreement. Then foreclosure might occur.... View More

1 Answer | Asked in Real Estate Law and Banking for Iowa on
Q: My bank removed our home owners insurance from our eacrow without informing us while doing year calcuations.

They also informed us when we asked about a larger sum back than usual that it was just over estimated taxes during the previous calculation.

They now want us to pay monthly on insurance and pay more into the escrow on a new signed agreement.

Is this legal since our previous... View More

John Michael Frick
John Michael Frick
answered on Jun 8, 2023

If you signed the "new signed agreement," you are most likely bound by its terms, even if they are different from the previous agreement you had with your bank.

If you did not sign the new agreement, your bank is most likely bound by the terms of the previous agreement you had...
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2 Answers | Asked in Banking, Consumer Law and Contracts for Iowa on
Q: I was paid over $5000 by a company to advertise on my car. I deposited it into my bank and spent it.

The checks came back as fake and now my bank wants me to pay all the money back to them. I'm on Social Security Disability and can't afford to do that. Since my bank is FDIC insured, won't they get their money back that way? Am I really obligated? After all, the only true victim is... View More

Ana Maria Del Valle-Aguilera
Ana Maria Del Valle-Aguilera
answered on Sep 3, 2020

FDIC insurance covers you (the funds in your deposit account) if the bank fails (kind of like going bankrupt). As an account holder you are responsible to the bank for all checks deposited into your account. This is covered by law (under the Uniform Commercial Code) in every state, and all banks... View More

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1 Answer | Asked in Banking, Business Law, Civil Litigation and Contracts for Iowa on
Q: Re: 3rd party financing thru a dealership. Is it legal to have someone sign an assigned contract if its already denied?

A bank denied credit before we signed. Dealer never told us but had same banks name on contracts as assignee.

Erik Luthens
Erik Luthens
answered on Jan 5, 2020

This question is too fact intensive for an online forum. You need to immediately retain an Iowa attorney to obtain an informed opinion.

1 Answer | Asked in Banking and Civil Litigation for Iowa on
Q: If a bank is paid off and the loans are moved to another bank and the previous bank signed off can they still foreclose

the bank has an on going lawsuit against them and signed off on the loans to be transferd to another bank and the transfer was completed for months now. Now they filed a deficancy on the farm and sold it without our knowledge and now are evicting us. what can be done to stop this?? They also... View More

Erik Luthens
Erik Luthens
answered on Nov 23, 2019

You need to immediately consult with an Iowa attorney who handles real estate matters and farm foreclosures in particular.

2 Answers | Asked in Federal Crimes and Banking for Iowa on
Q: It’s been 6 months since the situation can he still report fraud
Gary Kollin
Gary Kollin
answered on Sep 5, 2019

I guess. I have no idea without facts, type of fraud, date of discovery and so many more questions

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1 Answer | Asked in Banking for Iowa on
Q: how do you get full financial power of attorney over someone

My grandson is high functioning autistic. He works full time and gets paid every 2 weeks. I have durable power of attorney so I can get into his bank accounts and pay bills but he will spend it all before I can get a chance to ever pay them. I may get $150 - $200 to buy groceries or pay part of his... View More

Bruce Alexander Minnick
Bruce Alexander Minnick
answered on Jul 16, 2019

If you have a durable power of attorney now that is the best you can do--short of filing an action in the circuit court seeking some sort of limited guardianship. Hire a family lawyer to help you.

1 Answer | Asked in Banking for Iowa on
Q: Judge ordered a stay of garnishment on our bank account Monday, it’s friday when and how will my bank be notified? iowa
Bruce Alexander Minnick
Bruce Alexander Minnick
answered on May 31, 2019

Your bank should have been notified; however, if the judge merely stayed the garnishment it may not go away entirely. Suggest you call the lawyer that helped you get the stay.

1 Answer | Asked in Banking, Estate Planning and Probate for Iowa on
Q: What if someone takes money (bank CDs) that is left to someone else in a legal will?

My grandmother left 2 CDs left to my father in her will, also stating that if he passes within 30 days then they would go to me, my father passed 3 days later. The bank only had my father as a beneficiary, so they were put in his name. My father did not have a will. The bank told me they... View More

Kenneth V Zichi
Kenneth V Zichi
answered on Jan 10, 2018

I'm sorry for your loss, however it sounds like your Grandmother messed up here. If there is a beneficiary named on an asset, the will does not control it, and if your father died 1 second after your grandmother, then the bank did what it should by placing the CDs into your father's name.... View More

1 Answer | Asked in Banking and Juvenile Law for Iowa on
Q: I live in Iowa and just turned 18. I have a minor bank acct. My dad won't sign over my money that I earned.

I was told that once I turned 18 I could get into my money. My dad is refusing to sign the paper as he's the custodial owner of the account. What can I do?

Brian Lehman
Brian Lehman
answered on Jan 30, 2017

There are two issues here: (1) who owns the money, and (2) how do you get it. The money belongs to the child who is now an adult. "Under terms of a state's Uniform Gift to Minors Act or Uniform Transfer to Minors Act, a custodian controls these accounts while the child is a minor. But... View More

1 Answer | Asked in Banking for Iowa on
Q: What should I do when a Room-mate steals everything I have?

Used my checking account. She had her name on the account.Wrote bad checks, withdrew ALL the money, never recorded what was taken, never told me she took it, never gave me the money!!

Howard Berkson
Howard Berkson
answered on Nov 22, 2013

Call the police to see about initiating criminal proceedings. Talk to an attorney about civil proceedings. I would do both. However, if you and your roommate shared a checking account, then her use of funds in that account probably did not constitute theft.

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