You know it’s not Strictly Legal, but is it actually so? Legal Questions and Answers about Money.
There are always some things that you do that make you wonder if you are skating close to illegality. Here are some of those legal questions to do with money that have occurred to you from time to time, and some expert answers.
You have always known that it’s illegal to sign someone else’s name on a check and then to cash it. It’s called forgery. And there is jailtime involved if you get caught. But what about forgeries that are done as a matter of convenience – with the full knowledge and approval of all concerned? Let’s say that there is a parent who has a stroke and can’t sign on a check to withdraw money for his treatment? Could a son or daughter or wife sign on a check to take out some money to treat that person – because going through the due process would take too long? What about a son who wants to give money to his parents who asks them to simply sign his name on a check that he has left at home? As far as the law is concerned, a forgery is a forgery. There is no other way to look at it. Of course, if you are doing it with someone’s permission, they aren’t going to turn you in. But if the authorities sniff it out, you would still be in trouble.
It’s one of the most serious crimes around – applying for a loan under someone else’s identity. But what if you have permission to do it? What if for instance, your credit has been ruined, and you know that if you applied for a loan, they would charge you an arm and a leg for it? Why would you wanted put yourself through that? If your child has no problem with having you using his name, would it be legal? As legal questions go, this one’s pretty straightforward: it’s illegal. And not just because of the law’s concern for protecting everyone’s reputation. It’s also illegal because it involves third parties and their money.
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And finally on our roundup of legal questions to do with money, the question of fudging on an application. There is that memorable line in the Melanie Griffith thriller Pacific Heights where she plans with her boyfriend to buy a new house. They know that they don’t have the income to swing a loan; so they just decide to fudge on the application form. The say it so matter-of-factly, you get the idea that this is done often and no one really minds. Actually, they take very serious cognizance of any kind of untruth on a loan application. They go all the way and prosecute it for fraud. To begin with, most of the time, you wouldn’t get away with it; they do check to make sure that you aren’t lying. There are all kinds of legal problems you are lining herself up for too if you get caught.