I live in California and I sold my car that still had a lein on it. Both me and my buyer went to my bank to handle the paper work. He had a loan-cashier's check which he (my buyer) handed over to the person handling my account. The person handling my account told us where we needed to sign and i released liability and did a bill of sale. About 20 days later the person handling my account from my financial institution calls me and says the check was returned because the buyer didn't endorse the back of the check. Is that my fault or my banks fault?
Answer:
First off, was the cashier's check written to you? If so, then he shouldn't have to sign the back, you should have, and they could have stamped it for you, since you were just depositing it into your account. If it was a check to him, and he signed it over to you, then both of you needed to sign the back. I would state that it was poor on your bank's part since they were standing there watching you do it, not tell you that you needed to do it. I used to be a teller for Wells Fargo, and we had to check to make sure that everything was done correctly so that it didn't come back, just like this, so I would go and speak to the manager at the bank, with the teller that assisted you, and see what they can do for you, to push that through, since they were right there supposedly helping you with the transaction.
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