My apologies for not responding as I was sick.
I have a joint in a bank account with my friend. We are just friends, both are male, and we have our own families (separate wives and children). There is OR between our names in the account and anyone of us can withdraw and anyone can deposit. This is not business bank account.
Many times, he (my friend) withdrew cash form that joint account, by writing a check made out to himself. He is facing civil lawsuit and he almost lost the case. If he becomes judgment debtor then:
(i). whether I will be held in any manner responsible for fraudulent transfer claims (by the judgment creditor) for the cash my friend withdrew by writing a check made out to himself from that joint account?
(ii). the money my friend received from the joint account (by writing a check made out to himself), will be treated (by the court if the creditor files fraudulent transfer claim) as if he (my friend) alone received that cash or we both (I and him) received it together?
I have a joint in a bank account with my friend. We are just friends, both are male, and we have our own families (separate wives and children). There is OR between our names in the account and anyone of us can withdraw and anyone can deposit. This is not business bank account.
Many times, he (my friend) withdrew cash form that joint account, by writing a check made out to himself. He is facing civil lawsuit and he almost lost the case. If he becomes judgment debtor then:
(i). whether I will be held in any manner responsible for fraudulent transfer claims (by the judgment creditor) for the cash my friend withdrew by writing a check made out to himself from that joint account?
(ii). the money my friend received from the joint account (by writing a check made out to himself), will be treated (by the court if the creditor files fraudulent transfer claim) as if he (my friend) alone received that cash or we both (I and him) received it together?