If you've decided to have the cashiers check made payable to yourself, you'll need to endorse it over to the title company. You do this by signing/endorsing the back and under your signature write "pay to the order of" then print the name of the title company.
Let's add another scenario. Let's say you get a cashiers check and it is payable to the title company and the transaction does not close. All you need to do is take the cashiers check back to your bank and they will void it. They'll do a void for the remitter. That's you. ;)
6 comments:
A Fed Ex package with a cashiers check and settlement papers is lost. Can you void a cashiers check in Florida? I thought there was law passed that you could. Any help is appreciated.
Hi, Kevin: In an emergency a cashiers check can be voided but the remitter is the one who has to contact the bank and make the request. If the teller is uncooperative, ask for a manager. It's not something most have ever done so they may have to consult upper management for procedures.
now the magic question will they reissue one? Thanks for the help Diane
They'll reissue one. We've only had this happen once and it was also a lost courier package. Good luck and you're welcome. ;)
My title company lost my cashiers check, and now they stated that they are turning it over to there collections dept. I have been harrassed and my credit union does not stop payment on a cashiers check. Is there an insurance claim the title company can make to retrieve the money? Am I responsible for the check?
Hi, Anon: Well, as a non-attorney title agent, I do find it unreasonable that you would be held responsible for the negligence of that title agent, however, the reality is that you probably should continue to try to help rectify the situation.
It seems to me that the culprit here is the credit union.
Go up the chain of command. They will be able to tell you if the cashiers check ever cleared. If it didn't, it means the credit union still has the money. It's not their money and it is unreasonable that they are not offering a solution.
You can get a signed affidavit from the title company confirming the check was lost. What does the credit union do if a building burns down and a check is lost?
Trust me. There is a legal procedure for them to stop a cashiers/teller check and reissue a new one.
Contact the state banking regulator or the state attorney general office for assistance if the manager or owner of the credit union in unresponsive. Let them know that you know they have been unjustly enriched by keeping your money and you will use every means available to you to get it resolved.
That said, you are not alone in this quest. Frankly, I am appalled that the title agent who LOST the check isn't using the legal brainpower at their disposal to deal with the credit union themselves. THEY caused the problem. They should NOT place the burden completely upon your shoulder for resolution but they have proven themselves irresponsible already so I guess we shouldn't be surprised.
Good luck with it.
Remember to do all of your correspondence in writing and via certified mail. Everyone will recognize that you are creating a legal trail and that always makes them nervous and more likely to help. ;)
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