Can one spouse sell or trade stock without the other's permission...?
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It would depend on how the account is set up… they can be set up as an EITHER/OR account (so each party could do whatever they wanted) or as an AND account (so both parties would need to authorize the transaction). I guess there are some other ways to set up accounts, such as trusts and so on, that may have two names, but only one has control.
The trading account must be in the names of both partners, or there must be a stipulation in the contract allowing this kind of transaction. Exceptions include situations where one spouse in incapacitated, expired, or has provided power of attorney to the other.
I work for an investment company and we have strict regulation on these types of things. Usually a spouse can not make trades with out your verbal consent. However, the verbal consent expires within 24 hours. But, most brokers (where your investments and held) have a form known as a third party authorization form. If that is signed by both you and your spouse then her or she can make trades as if you where one person. hope this helps.
I have an individual trading account where I buy & sell stocks. I did not need my husband’s permission to set it up and I don’t need his permission to make any sort of trades.
Dorkgirl, GoPhillies, quarkquarkquark and heartkat..thank you so much for getting back to me so quickly, I appreciate your replys.
I ask this question because for years my husband has had stock in both our names, monthly reports would come addressed to both. I noticed this is no longer the case, the print outs are in his name, my name is missing for sometime now. I’ve questioned him numerous times…never really got an answer. So I finally, I seriously demanded why he dropped my name..his excuse…he would have to get my permission before he could trade or sell.I love my husband, but I find this rather sneaky…????
Not sure I should be concerned…???? Again, thanks for your feedback…:-)
Ah, sneaky behavior and hiding stuff…not good.
My husband knows I have my trading account and he’s the beneficiary.
I hope these are the only things your husband is hiding or has changed recently.
Good luck.
Thanks Dorkgirl. My husband started investing in a medical device over ten years ago, he feels it’s going to make us rich…still waiting. I told him I had a bad feeling about the company and begged him not to purchase more shares.
I know I’m the beneficiary, but like you stated, hiding stuff isn’t good.
Either spouse can buy or sell anything they want without the spouse permission. I can go out and buy a car or clothing or anything else, and he can buy any stock or sell it without my permission, as long as we are using our joint account, or any personal funds we might have.
Yarnlady,
So his excuse isn’t valid…????
@marionana I think your best bet is to sit down with your husband, and talk it out. Try to aviod conflict. Because it does seem shady from a third person looking in. best of luck.
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