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    lambskull's Avatar
    lambskull Posts: 1, Reputation: 1
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    #1

    Jun 24, 2011, 05:49 AM
    Joint bank account with one with house going into foreclosure
    Me and my boyfriend are thinking of opening a joint checking account for ease in paying bills and such. He has a home that is going into foreclosure. How would this affect our joint checking account.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #2

    Jun 24, 2011, 07:41 AM

    All of the money in the account will belong to him and all of the money in the account will belong to you. Either one of you can access all of the (joint) money.

    If there is a Judgment against one of you the entire amount can be taken - not just that one person's "share."
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