For legal questions relating to personal finance. Note that Stack Exchange does *not* provide legal advice; for questions with potentially serious legal ramifications, consult a lawyer specializing in the law in question.

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2
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1answer
104 views

Is a public company allowed to issue new shares below market price without consulting shareholders?

A small public company I own shares in recently advised the market it has completed a share issue to raise money. The new shares were priced significantly below the current market price and there was ...
0
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0answers
24 views

Does GAAP have rules for skipping a scheduled payment to avoid penalty on future payment [on hold]

The purchase contract on a business has a set schedule of payments and if a payment is not paid timely, a late fee penalty is required, and if not paid within a set time period, interest is to be ...
0
votes
1answer
85 views

Shouldn't nominal interest rates be illegal? [closed]

First of all, I'm really new to anything related to financial math and the like, but I just can't get my head around these nominal interest rates. The way I'm getting it is that it's just a euphemism ...
0
votes
2answers
74 views

Do I need to do a title search on land? how about title insurance? lawyers?

I am looking at a piece of land that is being sold for 25k. As I understand it, I need to do a title search before any transaction is done. I've already looked at the tax assessors website and seen ...
0
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0answers
36 views

real estate property that spans across multiple jurisdictions

Hopefully this isn't off topic, it's about real estate and this is the best SE site I can find. I'm looking at starting a business on a fairly large parcel of land. Once I looked at the assessor's ...
1
vote
1answer
122 views

Inspection Contigency - Form 35 (NWMLS)

After a residential home inspection has occurred, and both parties have signed/initialed an inspection response (NWMLS Form 35R); What are the buyers options for recourse when the seller does not ...
1
vote
2answers
162 views

Why can't 401(k) statements be delivered electronically?

I called Schwab and they just said, "401(k) accounts are not eligible for paperless confirmations and statements. It's the law. Sorry." I can't find any reference to this law in the Google. The ...
0
votes
1answer
48 views

Using a brand name in a product which I will sell [closed]

I own a company where we manufacture vinyl stickers which wrap up devices, varying from phones to game consoles. We had plans to create a design for Game of Thrones, but we are unsure how this bit of ...
0
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0answers
87 views

401k plan employee rights?

Is it legal for my employer to know what I'm doing with my money that is in the 401k, that comes from my employer, without my consent? Is the financial services company that manages my 401k permitted ...
2
votes
1answer
129 views

Do tax preparers have to report findings of illegal activities to any IRS?

Do tax preparers have to report findings/suspicions of illegal activities —e.g. failure to file for multiple years— of clients or even potential clients (seeking advice) to either Federal and/or any ...
2
votes
3answers
214 views

Is there a rule that a merchant must identify themself when making a charge

Recently I sent several credit card payments online. The company that charged my card is a multi-billion dollar company, so not just a small start-up. However on the statements the charges appeared as ...
-1
votes
1answer
75 views

Am I a tenant in common by mortgaging my share?

If I mortgage my share of the property and later pay off the mortgage, am I a joint tenant now or tenant in common?
4
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2answers
145 views

Magazine subscription leads to unauthorized recurring payment

I've heard various stories about unscrupulous business practices relating to recurring credit card payments, but this is a new one on me. I've been subscribing to Scientific American for a long time, ...
19
votes
4answers
3k views

After hitting 80% LTV, my mortgage lender refuses to remove PMI. Any recourse?

I recently refinanced my home. At the time based on the appraisal vs. amortization I found I would be stuck with PMI (private mortgage insurance) for about 9 months. I've paid extra on the mortgage ...
0
votes
1answer
106 views

Is it mandatory for tax preparation companies to offer free basic service?

I have seen that almost all of the tax preparation companies/softwares like H&R Block, Jackson Hewitt, Liberty Tax Service, TurboTax etc offer free basic federal tax filing. Is there any law ...
-1
votes
2answers
43 views

viewing stock market transactions

What I would like to know how to keep on eye on things like sale of a certain stock?, who is buying what stock?, what stocks are certain people buying? Is it legal to have access to these sorts of ...
1
vote
3answers
212 views

Should I proactively declare chapter 7 bankruptcy to end a pending $200,000 personal liability lawsuit before it gets started?

I am being sued for simply being associated with a company that cost customers money. I didn't know that company was being irresponsible, but the customers are saying I am liable for recommending ...
7
votes
2answers
2k views

Arguments on the “unconstitutionality” of income tax: What acts, etc. of Congress require payment of income tax?

I've heard that while the 16th Amendment gave the U.S. Congress the authority to enact laws for the application of an income tax on US citizens, but I've also heard that there is currently no law on ...
2
votes
1answer
704 views

How can ponzi schemes be detected and legally prosecuted

Out of curiosity: How can Ponzi schemes be detected? What are the conditions to be classified as a Ponzi scheme and what are the legal means to prosecute them? After all, a Ponzi scheme "operator" ...
1
vote
2answers
259 views

Is it illegal to refrain from selling stock based on insider information?

If I were planning to sell my stock of the company I work for, then see a non-public draft of the next quarterly report that will make the stock go way up, and cancel my plan to sell based on that ...
2
votes
1answer
65 views

Legal requirements to sell design content, artwork and also freelance in India?

I want to start a website where I can sell my digital artwork, 3D models etc at the same time use the site to get freelance graphic design work.I know how to go about it technically but what are the ...
-3
votes
1answer
68 views

Any Loop Holes for Owner Occupancy?

My Client wants to buy a Fannie Mae property in WA as an owner occupant. He owns another home out of state (in california). He has family that lives here in WA. This particular Fannie house in WA ...
6
votes
2answers
507 views

How secure is my 403(b)? Can its assets be “raided”?

I work at a state university and contribute to my 403(b) retirement account on a twice-monthly basis, maxing out the matching funds. I also contribute a smaller amount to another account, after ...
0
votes
1answer
231 views

My sister borrowed money on a home thats not hers, how can I protect the home?

After the death of my sister, my mother finds out she had taken a mortgage out on mom's home. The deed and taxes are only in mom's name. The bank came out taking pictures yesterday. Mom is 72 ...
4
votes
4answers
442 views

Can you live through a corporation, i.e. conduct personal affairs through a business?

I was curious if it were legal (USA) and possible to live "inside" of a corporation. As in I would purchase a house/car/etc through a corporate entity (I realize I'd likely pay more, but bear with me) ...
12
votes
1answer
3k views

What US law requires a bank to reopen a closed account if a third party sends money to it?

I used to have an account with a local credit union. I moved, then closed the account. The credit union mailed me a check for my remaining balance and confirmed the account was closed. This was 14 ...
3
votes
2answers
194 views

What constitutes illegal insider trading?

The SEC defines illegal insider trading as: [...] buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, ...
2
votes
1answer
272 views

What standards should I expect of my CPA when an error was made?

I was storing some product at a fulfillment company in California in 2011 & 2012. I live in Florida where I do business from my home. I have been doing my taxes with a CPA so it would get done ...
7
votes
2answers
4k views

I am under 18 years old, in the US, my parents have terrible credit, how can I take out a loan?

I am under 18, currently shopping for a car. Like many people, I don't have enough money sitting in my bank account to purchase a good car, around $6,000 to $10,000. However, credit checks have ...
0
votes
0answers
202 views

American citizens playing foreign sweepstakes

I've read here: http://www.fraudaid.com/scamspam/lottery/foreign_lottery_federal_statute.htm that it is illegal for U.S. citizens to play foreign lotteries (although many Americans play the Canadian ...
1
vote
2answers
150 views

Can a father structure his estate's inheritance to his children & one son-in-law in set percentages?

In a will from father to 3 daughters (I don't have a son), I can make a will giving equal shares to my 3 daughters. But, one of my son-in-law is giving me 50% of the total cost of the flat to ...
3
votes
2answers
676 views

Can you borrow against a home that you don't fully own, i.e. inherited part, but without estate fully settled?

My brother and I were left our parents' home after they passed. My brother, executor of the will, resided in the house at the time of their deaths and I did not. The home is still in the name of ...
2
votes
3answers
335 views

If I moved abroad, what happens to the U.S. apartment lease I'd be breaking? Would a debt follow?

I'm moving to the United Kingdom. What will happened to my apartment lease here in the United States? Will that debt follow me?
7
votes
2answers
234 views

Why is there an income restriction on contributing to a Roth IRA?

Currently, single adults making more than $112,000 ($178,00 for couples) per year cannot use Roth IRAs I was just wondering what the reasoning behind the income restriction was for the Roth IRA ...
1
vote
2answers
211 views

Is there a difference on how the property is divided during the divorce based on gender, in the U.S.?

I know in most developed countries, women can get rich from divorce. But suppose a poor man marries a rich woman and they divorce later. Can the poor man claim part of the woman's assets? Or does it ...
1
vote
1answer
95 views

What options exists for a group of people to collect money in a secure way?

I am part of a group of people with a common goal in mind. We are not organized in any type of association. However, we have a need to hire a lawyer to represent our interests as a group and time is ...
3
votes
2answers
3k views

Can wire transfers be reversed? Is there a law or regulation providing for it?

Can wire transfers be reversed? Is this codified into United States or International regulation/law anywhere?
6
votes
2answers
308 views

What considerations are there for making investments on behalf of a friend?

I've thought of two approaches so far: Pool their money into my own brokerage account and simply split the gains/losses proportional to the amount of money that we've each contributed to the ...
12
votes
1answer
566 views

Can a gift be re-gifted before a Chapter 7 Bankruptcy?

About a month or so ago, I gave a family member $10k to purchase a car, because he needed a reliable car for his two hour commute. He's going through some financial trouble, and is now looking to ...
3
votes
1answer
65 views

When must a health insurance plan provide contraceptive coverage under PPACA?

I'm having a hard time deciphering PPACA as it relates to contraceptive coverage. It seems that all plans that begin after August 2012 must provide it, but there is a "grandfather" clause that allows ...
8
votes
1answer
10k views

How do I sell a home that's owned jointly if my partner doesn't want to sell?

I own a home jointly with a partner. I have made all the payments, taxes and insurance since the beginning. I have a buyer for the home but my partner does not want to sell. How can I override his ...
9
votes
2answers
766 views

How should I move out of my own house?

About a year ago, my mom and I purchased a house. It was something she really wanted and I was pretty much guilt tripped into moving in. After moving into the home and seeing our relationship go ...
5
votes
1answer
166 views

In Germany: can i live in a Betriebstaette to circumvent payment of the Rundfrunkbeitrag

While for a flat a person has to pay 17 sth. € per month, while for a Betriebstätte with one person working a company only has to pay 5.99 €. As the company doesn't have to pay anything at all if the ...
1
vote
1answer
151 views

Canada: No taxes filed since 2003 while living in another country

My sister has been living in Central America since late 2002. She worked at small jobs to stay afloat, but didn't file taxes from 2003 onward. Now she is starting to pull in some proper writing jobs ...
1
vote
2answers
169 views

Switching apartments & the correct way to exercise notice period with current landlord?

I'm in the process of signing the contract with another apartment, but the owner of the apartment I currently live in is not responding. I've sent the current owner an email on 6th November and there ...
8
votes
3answers
3k views

Is person-person lending/borrowing protected by law?

Suppose that individual A lends his money to individual B. In order for A to be protected, what does he need to do? Is his lending protected by law? (I would prefer to hear the general case, but if ...
2
votes
2answers
2k views

How much time does one have to pay an invoice in Australia?

How long, legally, does one have, to pay an invoice? I have done extensive research on this, and there are too many contradictions on the Internet and a lot of it seems, to me, to be hearsay. I cannot ...
6
votes
1answer
993 views

Funds in closed bank account have gone to the government

My son was advised by his accountant to close his limited company and start a partnership instead. He did this but he was not told that he needed to clear the company bank account - he left this open ...
6
votes
1answer
525 views

Family/divorce lawyer wants large retainer before taking on case. Is this normal?

My friend needs to get a separation agreement and divorce. The law firm she called asked for a retainer of several thousands of dollars up front before doing any work. Is a large retainer normal for ...
3
votes
2answers
21k views

What happens if I move out before my lease ends?

Suppose I sign a one year lease for an apartment or a house and pay a security deposit for the same amount as a month's rent. If I move out before the lease ends I know that my security deposit will ...