Can a co-owner cash a Savings Bond without the owner's permission?
Wednesday, January 5th, 2005
Categorized as: Cashing in US Savings Bonds
My son was owner of some Savings Bonds and his dad was co-owner. What happens if his dad took the Savings Bonds and cashed them without my son's signature? Can he do that? And what can I do to get his money back?
As far as the US Treasury is concerned, either co-owner of a Savings Bond can cash it without the knowledge or permission of the other co-owner.
However, if there was an understanding between your son, his dad, and you that the bonds belonged to your son, you should discuss the situation with your lawyer.