Post dating checks legal

14-Jul-2019 06:09 by 2 Comments

Post dating checks legal

As a landlord, collecting a check that has been postdated could be dangerous.The tenant may know that he or she will not have the money in time, the check could have a stop-payment placed on it, or the check may bounce.

Punishment for perpetrators varies from state to state, but includes fines, probation and imprisonment, depending on the severity of the fraud, as well as restitution to the person, people or entity defrauded.Other states, like West Virginia, place responsibility on the person the check is written to.Often, bank tellers don't even look at the date while handling checks.However, if the tenant writes the check with the intent to have funds in the account on the date that the check is postdated for, there is no intent to commit fraud or pass a worthless check and therefore no illegal activity has technically taken place.Accepting a check that is postdated may provide the tenant with a legal defense that negates criminal intent even if the check doesn't clear.While it's best to avoid postdating checks so you don't run the risk of getting hit with bounced check fees, you can contact the bank with a written or verbal request to hold the check until the future date.

Since it requires the bank to take similar steps to a stop-payment on a check, the bank might charge you a fee for requesting that it ensures postdated checks are held until the right date.Also, debt collectors cannot threaten someone with cashing postdated checks early.Debt collectors breaking these rules could face civil penalties.Lamphere holds a Bachelor's degree in business management and is an experienced author, content manager and editor.You postdate a check by writing a future date on it.The Uniform Commercial Code states that a bank may honor a postdated check provided the check is otherwise safe to cash and the account owner has not provided the bank with "reasonable notice of the postdating.

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