Letters to the Editor, Feb. 19

Feb19 Toon Capitol gray

Bank policy less than user friendly

Many years ago my lawyer suggested a durable power of attorney document for me and my husband. I put our durable power of attorney documents away until I felt that I might need to use it to pay the ongoing bills.

Recently he was hospitalized and I went to the Chase Bank on First Avenue directly across from Stuyvesant Town on Fifteenth Street. After two days of being asked questions, I was told that it would be in action the next day. The next day, I was told by the bank officer that the document had been refused because it had not been written up in the last six months.

I then said that people do not do this every six months, but only get it done to use in an emergency. She said there was nothing she could do, for that was the rule.

I have my own checking account there and have been a customer for about 20-30 years and even when I brought that up I was still not someone passing through New York City, she still could not do anything for me. I called my lawyer who said that it was just the policy of Chase Bank and did not know of a six-month limit in other cases.

My husband has since recovered and I am going to update this document. I am writing to advise and to warn my neighbors of this ruling by Chase. It might be time to look around for another bank, for I always thought that I could use it whenever an emergency arose.

Mary Devers, ST

Tenants’ subletting is none of TA’s business

Re: “Subletting requires more than just matchmaking,” letter, T&V., Jan. 15, which was written in response to the T&V Jan. 8 article, “New business aims to find sublets for students in Stuyvesant Town”

To the editor:

In years past, the Tenants Association used to stand with tenants. However, in Susan Steinberg’s letter lambasting the sublet matchmaking service, the TA is standing with the property owner. Whose side are they really on?

They are focused on outing the tenants who may need to sublet their apartment for totally valid and legitimate reasons, and may not wish to go to the landlord for approval.

Legally speaking, a tenant who overcharges a sub-letter can be liable for treble damages. And, whether or not they sublet is provided in the terms of their lease with landlords, which is construed liberally in favor of tenants by state courts. Tenants are responsible for knowing the rules.

It seems like the TA is taking an “anti-youth” position here. Tenants do not need the Tenants Association providing “helicopter parenting” to lecture them on what they may or not do.

Name Withheld, ST

7 thoughts on “Letters to the Editor, Feb. 19

  1. To the person who wants the subletting of apartments in Stuyvesant Town and Peter Cooper Village to be completely at a tenant’s discretion, have you ever read your lease? ST-PCV leases stipulate that the landlord must approve sublets, meaning that tenants do not have the freedom or right to sublet without getting the landlord’s permission. Doing so is a violation of the terms of a tenant’s lease and may subject the tenant to termination of his/her lease.

    • To E.D. Brown,

      It’s none of Ms. Steinberg’s business. We don’t need a spying organization called the TA, ratting on neighbors.

      Thank you.

      • James Prideaux and others: Have any of you read your leases??? Apparently, not. Go ahead. Violate your leases by subletting without permission and see what happens to you when the landlord finds out.

        And, please, all of you stop spouting absurd nonsense about the TA working for the landlord. Nothing could be further from the truth. You people are frighteningly, dismayingly clueless and ignorant on that score.

  2. Unfortunately, Mary Devers’ experience with the bank refusing to honor a lawful Power of Attorney is common. All of the neighborhood banks operate similarly, and the investment companies are even worse. Although the law is clear that a Statutory Power of Attorney does not expire, the fact is the bank’s employees are not qualified to review whether a Power of Attorney is valid or defective, and they are not always familiar with the bank’s policies regarding sending the document to their legal department for review. Fortunately, a call from the lawyer to the bank manager is usually all that is needed to resolve the situation. In the rare instance when that fails, the Power of Attorney law provides for expedited review of the situation by a judge.
    Richard Bryan, Esq.

  3. Regrettably, Mary Devers’ experience using her Power of Attorney at the bank is common. The investment companies are even worse. Under the law, a Power of Attorney is good until death and never expires. Bank employees, however, are not qualified to review a Power of Attorney and determine whether or not it is valid. The bank manager is supposed to fax the Power of Attorney to the legal department for review, but sometimes even the manager is not familiar with the procedures. Fortunately, most of the time the situation is easily resolved by asking the attorney to call the branch manager. If that fails, the Power of Attorney law contains provisions which allow for an expedited review and resolution of the conflict by a judge.

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