banking
If the person who shares a joint bank account with makes a large purchase without the other person’s permission, what are the legal options?
<p>If a joint owner of a bank account spends a significant portion of money without the other’s permission and doesn’t ascribe ownership of the purchases to the other parties, what are the legal and non-legal remedies available?</p>

<p>In most cases, there is no direct legal recourse for such a withdrawal. Money in a joint account is co-owned, and any account holder may withdraw any of it for any lawful purpose.</p>
<p>As the article <a href="https://www.bankrate.com/banking/what-is-a-joint-bank-account/" rel="nofollow noreferrer">&quot;What is a joint bank account?&quot;</a> from Bankrate.com states:</p>
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<p>The money in joint accounts belongs to both owners. Either person can withdraw or spend the money at will — even if they weren’t the one to deposit the funds. The bank makes no distinction between money deposited by one person or the other, making a joint account useful for handling shared expenses. But a joint bank account should only be opened with someone whom you trust, since that person has equal control over the account’s funds.</p>
</blockquote>
<p>If the account holders have a contract or legal agreement that controls what money can be withdrawn and for what purposes, then a violation of such an agreement might be a cause for legal action. But merely opening a joint account does not create such an agreement nor imply it.</p>

<p>It would depend heavily on your juresdiction and what the relationship between the account holders was.</p>
<p>For example, if the account is owned by a married couple in a state/country with community property laws then there would likely be no criminal or civil recourse unless the money was withdrawn under false pretenses. In which case fraud laws &quot;may&quot; be applicable.</p>
<p>As a rule of thumb, I would say that no action could be taken immediately, through the existence of the withdrawal might be a factor in the division of property after a divorce.</p>
