I recently bought a storage unit in texas and inside the unit were 5 unsigned checks from E-Trade to the tenant but,

Asked over 1 year ago - Copperas Cove, TX

Are hand written and each worth 1200.00 dollars a piece totaling 6,000.00. Can i cash them? Are they mine ? If not what should i do with them?

Attorney answers (3)

  1. Kevin Matthew Koel

    Contributor Level 16

    2

    Lawyers agree

    Answered . If the payor has not signed them, they are not valid or negotiable instruments. If the checks are payable to another person, you have no legal right to use them. If you attempt to sign or endorse them to yourself or someone else without right, it will be forgery, which will expose you to civil and criminal liability. Checks are generally not like cash, they are more like promissory notes, in that they are a promise to pay a certain amount. However, there are certain situations when checks can be treated like cash, and your situation does not appear to be one of them.
    However, you should speak with an attorney familiar with commercial paper/banking to assist you further. After a quick review, the attorney should be able how to tell you how to dispose of them.

    If this response was helpful, please mark it as helpful or as a best answer. The response provided herein is for... more
  2. Bobby L. Bollinger Jr.

    Pro

    Contributor Level 17

    3

    Lawyers agree

    Answered . No, No, and you could send them back to ETrade.

    A hand-written check from ETrade does not sound legitimate anyway. Maybe they are checks written on an individual's account with ETrade, and of course that does not make them yours, either.

    This answer is intended as general information and not as specific legal advice. If you want to have a free... more
  3. Robert V Cornish Jr.

    Contributor Level 16

    1

    Lawyer agrees

    Answered . Brokerage firm checks generally do not look like this, especially if they're drawn on a local bank. There have been a few cases where a wayward broker will open an account in the name of his brokerage firm, usually for improper investments or other clandestine purposes. You should send the checks to E-trade and explain the circumstances in which they were found. More likely than not, the former owner of your storage unit was engaged in fraud of some kind

    The foregoing is not legal advice nor is it in any manner whatsoever meant to create or impute an attorney/client... more

Related Topics

Landlord-tenant law

Landlord-tenant law is governed mostly by state laws, and covers issues like security deposit limits and deadlines, evictions, and the right to withhold rent.

Tenant rights

Tenant rights vary by state, but in general, you have the right to safe and habitable housing, privacy, and to not be discriminated against, among other things.

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