Stealing from a Soldier?

[nichols7]

What is the name of your state (only U.S. law)? Illinois/Colorado

This is the longeststory of my life, however, i'll try to make it short. My husband was deployed to Iraq before we were married 2 years ago, his father was given a POA that his dads wife printed off of the computer... he signed it, they took it to the bank had it notorized, life went on.. he went to Iraq, and while he was gone, he recieved an inheratiance from a cousin on his mothers side. His dad took this check, with his power of attorney and deposited the money into a CD in his own SSN (his dads SSN), so not only was that bad, because that obviously left him no access to it unless his dad gave it to him, then him and his wife took a shared secured loan for 25 years out against the CD. They used the money to buy a house, which they decided they no longer want, and they quit making the payment. now the loan is eating the money in the CD, they are refusing to give us the deed or keys to the house so i can put it up for sale, and wont make any attempt to return the money they placed in the cd. I got copies of everything i could find, and I came across the POA his dad had while he was gone the first time... (hes in afganistan now, which is why im dealing with it) I found in a section about restrictions it reads, My agent cannot divert my assets to himself, his creditors, or his estate. I don't know much about all this but that sounds to me like the bank shouldnt have put the money in his ssn in the first place... I Also read that a POA not prepaired by an attorney has to be signed by 2 witnesses and notorized to be legit. Im trying to figure out who is at fault and who I need to talk to about re-payment.. obviously his father owes him the money, but he doesnt have the money to give... is the3 bank liable for this? and what are the consiquences for his father and step mother?

[BlondiePB]

Originally Posted by nichols7

What is the name of your state (only U.S. law)? Illinois/Colorado

This is the longeststory of my life, however, i'll try to make it short. My husband was deployed to Iraq before we were married 2 years ago, his father was given a POA that his dads wife printed off of the computer... he signed it, they took it to the bank had it notorized, life went on.. he went to Iraq, and while he was gone, he recieved an inheratiance from a cousin on his mothers side. His dad took this check, with his power of attorney and deposited the money into a CD in his own SSN (his dads SSN), so not only was that bad, because that obviously left him no access to it unless his dad gave it to him, then him and his wife took a shared secured loan for 25 years out against the CD. They used the money to buy a house, which they decided they no longer want, and they quit making the payment. now the loan is eating the money in the CD, they are refusing to give us the deed or keys to the house so i can put it up for sale, and wont make any attempt to return the money they placed in the cd. I got copies of everything i could find, and I came across the POA his dad had while he was gone the first time... (hes in afganistan now, which is why im dealing with it) I found in a section about restrictions it reads, My agent cannot divert my assets to himself, his creditors, or his estate. I don't know much about all this but that sounds to me like the bank shouldnt have put the money in his ssn in the first place... I Also read that a POA not prepaired by an attorney has to be signed by 2 witnesses and notorized to be legit. Im trying to figure out who is at fault and who I need to talk to about re-payment.. obviously his father owes him the money, but he doesnt have the money to give... is the3 bank liable for this? and what are the consiquences for his father and step mother?

Your husband needs to revoke his dad's POA, have a new one drafted with you as POA, and y'all need an attorney...like yesterday.

All financial institutions need a copy of the revocation.

[nichols7]

Well I have the POA now, and i called the bank and told them they needed to look over thier documents because i believe they misused his POA... they acted like it wasnt thier fault.

[anteater]

You will have to pardon me if I am misinterpreting, but you seem intent on pinning this on the bank. While I realize that is where the deep pockets reside, that is one tough and expensive fight that, in my opinion, you will lose.

Your husband's Dad misused the power and that is who your husband has to take on.

[nichols7]

no, I understand that it is his dads fault... however theres more to the story on that side, his dad is disabled.. he is blind, and has mild dimensia. I don't think when all this happened his intention was at all to screw my husband over, the reality of it is, its his wife doing all of this, and he only knows what she keeps telling him which is lies... he is currently in the VA where we live becuase he had a stroke. I believe if he really knew what was going on he would try to make it right, but for some reason he only believes her.. like a dependancy thing or something. Thats why we are trying to go after the bank... But my point with the bank is... if they accepted tis POA when its clearly written that hes not allowed to transfer my husbands assets to himself, and especially if hte POA isnt legit at all... how could they not be held resposible.. they accepted it and not only that they would have notorized a crap POA... Im not trying to say your wrong becuase I have no idea... it just seems like they would have just as much fault in the matter.

[Kiawah]

I've never found any bank to 'police' the individual transactions on an account with a POA. Given the millions of accounts, and each POA is different, that would be an impossible task.

I've found they either accept the POA and put the signature on file in their systems, or they don't and will want you to get their own bank POA signed.

Your husbands issue is with the father who had the POA, and apparently misused it thru his wife.

[nichols7]

maybe not every transaction.... however.. if someone brought in a 45,000 check... dont you think they should have made perfectly clear his abilities with that POA.

[Kiawah]

So you are expecting it to go something like this?

Excuse me sir/mam, could you please drive around and come into the branch. I have detected that you have a check signed with a POA signature. I know that I am only a minimum wage teller, but I would need to see that 10 page power of attorney, and have a chance to sit down and read it......you don't happen to have that with you, by any chance, do you?

If you don't, we can perhaps step over here into an office, and I'll sign into our I/T systems and retrieve and print an image copy from our archives, and then we can jointly read it and you can point out in the language where you have the proper authority. Now before we do that, let me turn on this recorder so we can record this conversation and you can tell me exactly what you are trying to do with this check and why. If you don't want the recorder option, I have this form over here that I need you to fill out which will document the same thing. Do you have any supporting information or documentation that we can have a copy of, as well? That way we'll know what to look for in all of this legal language, which I'm sure will speed up the process a little when I get the corporate lawyer on the phone who will review everything and give the final approval to process this check.




I don't think so. It's just not operationally feasible. Customers wouldn't accept this, and banks wouldn't agree to do it without some huge processing fee.

[BlondiePB]

Originally Posted by Kiawah

So you are expecting it to go something like this?

Excuse me sir/mam, could you please drive around and come into the branch. I have detected that you have a check signed with a POA signature. I know that I am only a minimum wage teller, but I would need to see that 10 page power of attorney, and have a chance to sit down and read it......you don't happen to have that with you, by any chance, do you?

If you don't, we can perhaps step over here into an office, and I'll sign into our I/T systems and retrieve and print an image copy from our archives, and then we can jointly read it and you can point out in the language where you have the proper authority. Now before we do that, let me turn on this recorder so we can record this conversation and you can tell me exactly what you are trying to do with this check and why. If you don't want the recorder option, I have this form over here that I need you to fill out which will document the same thing. Do you have any supporting information or documentation that we can have a copy of, as well? That way we'll know what to look for in all of this legal language, which I'm sure will speed up the process a little when I get the corporate lawyer on the phone who will review everything and give the final approval to process this check.

OMG, that is great!

[Pink Lady]

What I'm wondering is why he gave his dad a POA and not you. You don't have to answer that if you don't want to.