Posted by B.L.Renfrow on August 14, 2003 at 12:18:48:
…just take a copy of the POA when you go to deposit the check and there shouldn’t be any problem. However, the teller may not know how to handle it, in which case you’ll have to speak to a manager. Shouldn’t be a problem though.
Brian (NY)
Sub2 can’t cash REFI check?? - Posted by LeonNC
Posted by LeonNC on August 14, 2003 at 11:15:12:
Ok, I just refinanced a house I bought subject to a while back. I recieved a “payoff overage” check for over $500.00 but it’s in the name of the previous owner.
Any ideas how I can get this in my name? Or am I going to have to get with the previous owner and give them half?
Thank-you,
Leon
Re: Sub2 can’t cash REFI check?? - Posted by MatthewC
Posted by MatthewC on August 15, 2003 at 12:19:08:
I receive checks in other peoples names all the time such as escrow refunds, insurance refunds, and the like. I simply fill out my own deposit slip of my corporate account and write For Deposit Only with a bank acct on it. The tellers know me and I have a great record with them, so they assume the best and don’t even question me. It is deposited and almost as good as cashing it.
Re: Sub2 can’t cash REFI check?? - Posted by B.L.Renfrow
Posted by B.L.Renfrow on August 14, 2003 at 11:56:48:
Do you have a power of attorney from the previous owner allowing you to cash/deposit checks made out to them?
If not, you’ll probably need their cooperation and signature to cash the check.
Brian (NY)
No big deal - Posted by Rick(MD)
Posted by Rick(MD) on August 14, 2003 at 12:35:02:
Don’t make it an issue. Write “For deposit only” on the back where you would normally endorse it, then put your account number and hand it to the teller along with the deposit slip. 9 times out of 10 that’s all you have to do. Don’t bring up the power of attorney unless they ask. No need to complicate matters.
Rick
I DO, I DO, I DO !!! Thanks Brian (nt) - Posted by LeonNC
Posted by LeonNC on August 14, 2003 at 12:09:31:
.