Legal Alert - Nevada Supreme Court Limits Ability to Execute on Funds Contained in Joint Accounts in Brooksby v. Nevada State Bank
In Brooksby v. Nevada State Bank, 129 Nev. Adv. Op. 82 (Nov. 7, 2013), Nevada State Bank obtained a deficiency judgment against the guarantor of a commercial loan and then garnished funds contained in bank accounts jointly held by the judgment debtor and her nondebtor children. The nondebtor children challenged the garnishment by alleging that it was improper because all of the funds belonged to them rather than their mother, the judgment debtor. The lower court denied the nondebtor children’s claims and upheld the garnishment. The nondebtor children then appealed the decision to the Nevada Supreme Court.