California Banking Questions & Answers
Q: Can I sell my house for reduced price for my non-biological/legal son and his in laws gifting the difference to my son?
Vincent Gallo's answer
Provided that you are confident and not acting under duress, you are free to gift property to whomever you wish to.
Provided that you are confident and not acting under duress, you are free to gift property to whomever you wish to.
Q: Hi, which licenses are needed for a business that holds customers money in accounts that they can access across country?
1 Answer
| Asked
in
Banking, Business Formation and Business Law
for
California
on
Answered on Feb 13, 2019
Answered on Feb 13, 2019
Robert Lopez's answer
Hi, every state is going to have a different law and most will require a slightly different type of license. The most common type of license is a "money transmitter" license. Most, but not all, of these licenses are regulated by each state's Department of Banking Department/Division. Others will be regulated by that state's Attorney General's office. The actual names of the departments/divisions will vary in each state. The cost of each license will also vary, but it may cost you somewhere...
Hi, every state is going to have a different law and most will require a slightly different type of license. The most common type of license is a "money transmitter" license. Most, but not all, of these licenses are regulated by each state's Department of Banking Department/Division. Others will be regulated by that state's Attorney General's office. The actual names of the departments/divisions will vary in each state. The cost of each license will also vary, but it may cost you somewhere...
Q: im ready to dig up my money
Aaron Michael Lloyd's answer
If you are interested in scheduling a bankruptcy consultation please contact one of us and we can get you in for a free consultation.
If you are interested in scheduling a bankruptcy consultation please contact one of us and we can get you in for a free consultation.
Q: Is it mandatory to include a verification pleading with an interrogatories, discovery's and admissions ?
1 Answer
| Asked
in
Consumer Law, Banking and Civil Litigation
for
California
on
Answered on Dec 15, 2018
Answered on Dec 15, 2018
William John Light's answer
A Verification is provided with discovery responses, not with the actual discovery.
A Verification is provided with discovery responses, not with the actual discovery.
Q: Is it legal to install spyware on another persons phone without their consent or knowledge?
1 Answer
| Asked
in
Criminal Law, Banking, Civil Rights and Communications Law
for
California
on
Answered on Nov 17, 2018
Answered on Nov 17, 2018
Dale S. Gribow's answer
MORE INFO NEEDED
HIRE A LAWYER AND REPORT TO POLICE AND HAVE THE DA PROSECUTE.
MORE INFO NEEDED
HIRE A LAWYER AND REPORT TO POLICE AND HAVE THE DA PROSECUTE.
Q: What can i do if I was the victim of a scam involving false cashiers checks and now my bank took my disability check?
William John Light's answer
You should notify:
Federal Trade Commission (FTC):by telephone at 1-877-FTC-HELP or file an electronic complaint via their Internet site at https://www.ftccomplaintassistant.gov/#crnt&panel1-1.
Internet-based scams–Federal Bureau of Investigation (FBI) Internet Fraud Complaint Center: http://www.ic3.gov.
Mail-based scams–U.S. Postal Inspector Service:by telephone at 1-888-877-7644, by mail at U.S. Postal Inspection Service, Office of Inspector General, Operations...
You should notify:
Federal Trade Commission (FTC):by telephone at 1-877-FTC-HELP or file an electronic complaint via their Internet site at https://www.ftccomplaintassistant.gov/#crnt&panel1-1.
Internet-based scams–Federal Bureau of Investigation (FBI) Internet Fraud Complaint Center: http://www.ic3.gov.
Mail-based scams–U.S. Postal Inspector Service:by telephone at 1-888-877-7644, by mail at U.S. Postal Inspection Service, Office of Inspector General, Operations...
Q: Wells Fargo foreclosed on my OC home in 2009 and refused to consider a loan mod. Which law firm is handling this case?
1 Answer
| Asked
in
Banking, Consumer Law and Federal Crimes
for
California
on
Answered on Aug 14, 2018
Answered on Aug 14, 2018
William John Light's answer
You would have to ask Wells Fargo for that information. https://www.wellsfargo.com/mortgage/manage-account/payment-help/foreclosure/
You would have to ask Wells Fargo for that information. https://www.wellsfargo.com/mortgage/manage-account/payment-help/foreclosure/
Q: Hello,If I have a judgement against me, in my name, can the other party put a lien on my business bank account?
Thomas A. Grossman's answer
If the Judgment has been entered and served on you, the creditor can file a Writ of Execution and execute on your personal bank accounts(s). If your business is also named in the Judgment, the creditor can also execute on your business account. Sometimes banks screw up and allow their employees to allow execution on your business accounts by the creditor, even though that account has not been named in the Order. Caveat emptor.
If the Judgment has been entered and served on you, the creditor can file a Writ of Execution and execute on your personal bank accounts(s). If your business is also named in the Judgment, the creditor can also execute on your business account. Sometimes banks screw up and allow their employees to allow execution on your business accounts by the creditor, even though that account has not been named in the Order. Caveat emptor.
Q: My wife passed away earlier this year. She had no joint accounts with me, her husband. She also left no will. Under the
John B. Palley's answer
Please understand I am giving general information here and you should consult with an attorney for specifics. I would say it depends on if the accounts were "community property" or "separate property." CP is generally monies earned by either of you, during marriage, from your work, assuming no pre or post nuptial agreement is in place. If CP I would say you are entitled to 100%. SP would be other money. If one kid it's 50% to kid and 50% to you. If more than one kid it's 1/3 to you and 2/3...
Please understand I am giving general information here and you should consult with an attorney for specifics. I would say it depends on if the accounts were "community property" or "separate property." CP is generally monies earned by either of you, during marriage, from your work, assuming no pre or post nuptial agreement is in place. If CP I would say you are entitled to 100%. SP would be other money. If one kid it's 50% to kid and 50% to you. If more than one kid it's 1/3 to you and 2/3...
Q: Can I be sued for taking someone’s money and saying that I would invest for them when I don’t actually invest for them.
Tracy Stoneman's answer
Yes, because that conduct could constitute fraud and possibly breach of contract depending on the consideration paid.
Yes, because that conduct could constitute fraud and possibly breach of contract depending on the consideration paid.
Q: Can I get my judgement paid from someone who filed bankruptcy and was discharged but didn’t list me as a creditor?
Leon Bayer's answer
Your debt is considered discharged whether or not the debt was listed, unless you have a legal basis to object to the discharge.
Your debt is considered discharged whether or not the debt was listed, unless you have a legal basis to object to the discharge.
Q: A fellow veteran opened a Chase bank account to cash a $13k Veterans compensation check from the US Treasury.
1 Answer
| Asked
in
Banking, Civil Litigation, Identity Theft and Criminal Law
for
California
on
Answered on Mar 24, 2018
Answered on Mar 24, 2018
Dale S. Gribow's answer
clearly you were the victim of a con............
more info is needed.
it should not have taken the bank that long to clear..........i would consider suing the bank for that amount of money but unless you have info on the person who scammed you then you are probably out of luck.
you can sue in small claims court for up to $10k
clearly you were the victim of a con............
more info is needed.
it should not have taken the bank that long to clear..........i would consider suing the bank for that amount of money but unless you have info on the person who scammed you then you are probably out of luck.
you can sue in small claims court for up to $10k
Q: In California do you have to go to probate to collect money left in personnel business account ?
Richard Samuel Price's answer
If there is no beneficiary named on the account, then if the total assets of the decedent are greater than $150,000, then you would have to go through probate. Or, if there was any real estate in the decedent's name.
If there is no beneficiary named on the account, then if the total assets of the decedent are greater than $150,000, then you would have to go through probate. Or, if there was any real estate in the decedent's name.
Q: Can I take benefit of difference in interest rates in different different banks?
William John Light's answer
This seems to be of dubious ethics. You aren't providing any service that these people can't get from the bank themselves.
You appear to acting as sort of an investment advisor. While I am do not practice law in that field, I would refer you to an answer to a similar question on Quora:
https://www.quora.com/In-the-U-S-can-you-invest-trade-other-peoples-money-without-any-special-license
"Whoa! Stop! You CANNOT advise, trade, manage, or otherwise influence investments...
This seems to be of dubious ethics. You aren't providing any service that these people can't get from the bank themselves.
You appear to acting as sort of an investment advisor. While I am do not practice law in that field, I would refer you to an answer to a similar question on Quora:
https://www.quora.com/In-the-U-S-can-you-invest-trade-other-peoples-money-without-any-special-license
"Whoa! Stop! You CANNOT advise, trade, manage, or otherwise influence investments...
Q: I opened a checking account. Deposited monies. Received checks from the bank. when I wrote checks they were not honored.
William John Light's answer
First, close your account. Second, if your credit has been damaged, you may have a claim for negligence against the bank. Depending on the effect upon you, it could be a Small Claims case, or you might need a lawyer for a bigger case with more damages. See http://blogs.findlaw.com/injured/2016/04/can-you-sue-for-a-damaged-credit-rating.html
First, close your account. Second, if your credit has been damaged, you may have a claim for negligence against the bank. Depending on the effect upon you, it could be a Small Claims case, or you might need a lawyer for a bigger case with more damages. See http://blogs.findlaw.com/injured/2016/04/can-you-sue-for-a-damaged-credit-rating.html
Q: I want to use my cousins American account to receive funds for online transactions.
1 Answer
| Asked
in
Banking, Business Law and Consumer Law
for
California
on
Answered on Dec 24, 2017
Answered on Dec 24, 2017
Q: Have 30k in cash given to me by mother. What is best way to get into bank and will there be tax liability?
Zaher Fallahi's answer
You can deposit and the bank will issues 8300 for it, but shouldn’t be a problem. No tax liability. Mom will have gift tax filing requirement. If there are concerns, consult a tax attorney with Bank Secrecy Act (BSA) experience. The information presented herein is for general purposes only. It is not intended for, and may not be construed as legal, tax, or accounting advice, or business solicitation. For specific advice, please consult a tax attorney in person. Good luck. Zaher Fallahi,...
You can deposit and the bank will issues 8300 for it, but shouldn’t be a problem. No tax liability. Mom will have gift tax filing requirement. If there are concerns, consult a tax attorney with Bank Secrecy Act (BSA) experience. The information presented herein is for general purposes only. It is not intended for, and may not be construed as legal, tax, or accounting advice, or business solicitation. For specific advice, please consult a tax attorney in person. Good luck. Zaher Fallahi,...
Q: Can I write off contributions to my IRA if I own my own business?
Zaher Fallahi's answer
401(K) and SEP-IRA will be funded and deducted by the S corporation. Regular IRA would be deducted on the 1040 form your earned income, not from K-1 distribution. Whether you can take regular IRA, you should ask the tax preparer, because it is based on the figures on the 1040. The information presented herein is for general purposes only. It is not intended for, and may not be construed as legal, tax, or accounting advice, or business solicitation. For specific advice, please consult a tax...
401(K) and SEP-IRA will be funded and deducted by the S corporation. Regular IRA would be deducted on the 1040 form your earned income, not from K-1 distribution. Whether you can take regular IRA, you should ask the tax preparer, because it is based on the figures on the 1040. The information presented herein is for general purposes only. It is not intended for, and may not be construed as legal, tax, or accounting advice, or business solicitation. For specific advice, please consult a tax...
Q: I made a left turn at stop sign. It recently changed no left turns between 8 and 9 am And 3 to 4 pm... School area..
1 Answer
| Asked
in
Consumer Law, Banking and Traffic Tickets
for
California
on
Answered on Nov 3, 2017
Answered on Nov 3, 2017
William John Light's answer
Sounds like you probably turned left between 8-9 and violated the no left turn law. So, no, you can't successfully fight that unless the no left turn sign is obscured or hidden somehow.
Sounds like you probably turned left between 8-9 and violated the no left turn law. So, no, you can't successfully fight that unless the no left turn sign is obscured or hidden somehow.
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