A found rent check still valid?
Answer:
Take it to the bank and see if they will honor it. Some checks are not good after 90 days. The only problem you might have is whether your renter has sufficient funds in his account to cover the check. He might have lost track of the check as you have.
My wife normally keeps check made out to her around the house for about 6 months before she gets around to cashing them. Her mother once wrote her a check then died. She cashed it 6 months after her death. The check a almost 2 years old. She checke with her brother, the executor of the estate first to make sure there were sufficient funds.
No, sorry up to 90 days/3mnths. I would contact them to try to get it again. They should have noticed that it never went through and let you know! : )
Most checks have to be cashed in 60-90 days. Call their bank and ask them as well. If they are still your tenants you could speak to them, let them know what you discovered. If they are not your tenants you may have difficulty finding them to get payment even though it was due.
Usually they are only good for 90 days but check with your bank and if not have the renters write another check and be sure and return the old check to them
Checks are only good for like 90 days
Depending on the banks guidelines, checks are good for 3-6 months. I have one bank that checks are only good for 90 days and the other for 6 months; very rare though.
Unfortunately, since it was your error you cannot request the renters to re-write the check. You can ask them to, but they can refuse. Since they paid on time even though you did not deposit on time, it is not their fault.
You can always check with an attorney though. Where I am from, your error, your fault.
If they are honest then you can have them write another check. Legally they paid the rent because you are holding the reciept.Having someone to pay rent from over a year ago may set them back pretty hard.Your husband made the error so the tenants should have the option to repay this in installments if they pay again at all.I think they will understand or you can hold the deposit untill this is cleared up
"A bank is under no obligation to a customer having a checking account to pay a check, other than a certified check, which is presented more than 6 months after its date, but it may charge its customer's account for a payment made thereafter in good faith." Uniform Commercial Code, Section 4-404.
I would just deposit it. It's still less than 6 months, and per the UCC, it's considered a good faith issue no matter how long you hold it for. That means there is no real limit on how long you can hold a check for.
"Unfortunately, since it was your error you cannot request the renters to re-write the check. You can ask them to, but they can refuse. " If they refuse, you take them to court for non-payment. Thats a bunch of bull.
banks like citibank reserve the right to pay any check regardless of the date on the check. a check is considered stale dated after 60 days. that does not been it cannot be cashed. however do not make the deposit at a atm. it will definetly be rejected. make the deposit at the teller of your bank, and they will be able to tell you whether they can cash it or not ( or call customer service and check the policy of the bank about stale dated checks if you do not have time to go to a bank.)
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