ULPT Request: I have an insurance check from my flood insurance company after hurricane Helene. It’s made out to 4 entities making it effectively irredeemable.
Posted by SFNY2024@reddit | UnethicalLifeProTips | View on Reddit | 11 comments
I’ve followed the steps to try to get it reissued in a way that I can deposit it but the insurance company has done nothing after almost a month and many followups. I’m drowning in CC I used in flood damage mitigation. I need this money. What can I do unethically or ethically to cash this check?
StarChaser_Tyger@reddit
If it's made out to you AND Moe AND Larry AND Curly, you're boned. All four of you would need to be there to deposit it.
Ask your bank about it, they may have some ideas.
If it's you OR More, ext, than any of you should be able to cash/deposit it.
SFNY2024@reddit (OP)
Let’s say my nephew took it from me (that little shit) and took it to his calligraphy class (his parents are rich snob) and practiced signing the back. Then his mom finds the check fully signed and that bitch unethically deposited it in her bank account? Would anyone but me be hurt about it? Would any fraud flag be raised if I didn’t come forward to report her to the authorities (I’ll save that announcement for Thanksgiving)?
StarChaser_Tyger@reddit
Depends on how closely the banks check the signatures. That is definitely check fraud, though.
SFNY2024@reddit (OP)
Sounds unethical so, uh ✔️
Itchy_Horse@reddit
Sounds illegal.
Mr_RubyZ@reddit
The only people that care are the 4 with a stake in the money.
If the 2 people having their signatures forged find out they are owed money, they will want it, and you will have to pay or face fraud consequences.
SFNY2024@reddit (OP)
Ok this brings up another question. One check with four signatures but no instructions on how that money is split. How is this managed? Is there a custom or law around this? It can’t be deposited into 4 banks so how does it work? I’m departing from ULPTs and am genuinely curious about this.
Double-Mouse-407@reddit
It comes down to the contracts and agreements made amongst you and the contractors on the check.
SubstantialMirror136@reddit
If the check is made out to 4 entities they all sign. Medallion stamp for the mortgage company, you and you…. Then just the 4th signature. It just needs to have ink on paper. Dassit.
Mr_RubyZ@reddit
Who are the 4 entities to you? Family? Companies? Partial owners?
SFNY2024@reddit (OP)
Two of the entities are me, one is an entity that no longer has a legal stake in the property, and one is my mortgage company.