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Answers (2)
Best Answer
- wordsmth
- Contributions:361
I'm not a lawyer, so this isn't legal advice. For that, you need a lawyer.
Technically a post-dated check is just an IOU. It's not supposed to be deposited before it's dated.
However: Be very careful with post-dated checks. Lots of companies with lock boxes do cash checks early. I have a HELOC with Chase and for a while paid through my own bank (which insists incorrectly it can't do electronic fund transfers with Chase). So I'd log on to the account and set up a payment to arrive by, say, August 20. My bank would cut the check, date it August 20, and put it in the mail on August 16. Several times, it reached Chase early, and they cashed my August 20 check on August 17 or 18. So post-dating a check isn't much protection. (I now use a different method of payment.)
So your landlord technically received an IOU from you. It wasn't something he could go down to the bank and deposit. It was just a piece of paper that might--or might not--be good when the due date finally rolled around. That's the problem you ran into.
On the other hand, as a practical matter, I'd have taken the check and deposited it on the due date. It strikes me as silly and counterproductive for your landlord or the management company to have rejected the check. But, from their perspective, they didn't receive payment--just an IOU.
Hope that helps.
Technically a post-dated check is just an IOU. It's not supposed to be deposited before it's dated.
However: Be very careful with post-dated checks. Lots of companies with lock boxes do cash checks early. I have a HELOC with Chase and for a while paid through my own bank (which insists incorrectly it can't do electronic fund transfers with Chase). So I'd log on to the account and set up a payment to arrive by, say, August 20. My bank would cut the check, date it August 20, and put it in the mail on August 16. Several times, it reached Chase early, and they cashed my August 20 check on August 17 or 18. So post-dating a check isn't much protection. (I now use a different method of payment.)
So your landlord technically received an IOU from you. It wasn't something he could go down to the bank and deposit. It was just a piece of paper that might--or might not--be good when the due date finally rolled around. That's the problem you ran into.
On the other hand, as a practical matter, I'd have taken the check and deposited it on the due date. It strikes me as silly and counterproductive for your landlord or the management company to have rejected the check. But, from their perspective, they didn't receive payment--just an IOU.
Hope that helps.
- JimmyW1954
- Contributions:2
Thanks, the check would have cleared regardless of when it was deposited. I just mailed it early making sure it was received by the due date. Seems crazy to me.
Rental check returned marked void not accepted because it was posted dated for due date.
Check was dated for the date rent due by date but was received before rent due date.
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