2006-07-25 03:33:09 · 9 answers · asked by import22 1 in Cars & Transportation ➔ Insurance & Registration
It would be best if you endorsed it and forwarded it to the lien holder. The headache you save will be your own.
2006-07-25 03:37:59 · answer #1 · answered by Anonymous · 0⤊ 0⤋
To cash a check made out to more than one payee using the term "AND" between the names, each payee must endorse the check. (If it's "OR" then of course either could cash the check.)
If you forge a name, and then cash the check, the person whose name was forged can generally report the forgery within 3 years, at which time the bank that cashed the check will notify you and you will have 30 days to make the bank whole.
Even after making the bank whole, if there is any indication of attempted fraud on your part, the district attorney in the county where the check was cashed, or the county where the check was drawn, can file criminal charges against you.
So, sign the check and give it to the lien holder for payoff.
2006-07-25 04:37:08 · answer #2 · answered by oklatom 7 · 0⤊ 0⤋
I've never seen an insurer who stayed on risk with 5 loss payees on a Homeowner's policy (that's usually a HUGE moral hazard). Unfortunately there is no way to cash a cheque unless all payees have signed the cheque. Therefore you're going to have to call all five additional parties on the cheque and tell them that you need their endorsement on the cheque in order to have enough funds to start repairs. There's no guarantee they will agree to this. One of them may ask that the funds be released to them and they will issue the funds as needed. You state 20K issued out of 160K that was available. Do you mean that the total estimate of the damages is $160,000, or $160,000 is the limit of the policy? If it's the first then the insurer is not going to issue the total estimate. They need to see that repairs are under way and they will issue in stages. If it's the second what is the actual estimate of the damages?
2016-03-27 06:16:27 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You can once the lien holder has signed the check. Adjusters write the check out to both parties in insure that the Lien Holder is aware of the situation and gets their money for the totalled car.
good luck!
2006-07-25 04:37:13 · answer #4 · answered by Nysa 3 · 0⤊ 0⤋
You can only if the lienholder signes the check as well as you.
2006-07-25 03:41:24 · answer #5 · answered by Anonymous · 0⤊ 0⤋
not without the leinholders signature!
You have to pay off the leinholder 1st
2006-07-25 03:51:27 · answer #6 · answered by Vicky 7 · 0⤊ 0⤋
Legally NO
not without their signature.
You could go to Jail..
And thats not a good thing.
2006-07-25 03:41:02 · answer #7 · answered by Vulcan 1 5 · 0⤊ 0⤋
yes, after the leinholder signs off on it.
2006-07-25 04:40:04 · answer #8 · answered by Anonymous 7 · 0⤊ 0⤋
the lien holder must sign it too
2006-07-25 03:37:22 · answer #9 · answered by Anonymous · 0⤊ 0⤋