Hi there. You should start by speaking to the bank about what to do if a co-signatory to an account is not cooperating. The bank may offer an internal dispute resolution process to resolve the matter or provide an alternative way for you to access the money without the other party’s signature. For example, the bank may require you to completing a statutory declaration confirming the other party’s non-cooperation.

If the bank is unable to help, you may be able to recover your money by taking legal action. The law says that a person who makes a promise to another person cannot go back on that promise if it would cause the other person detriment or loss. In your situation, the property owners may be stopped from refusing to return your money if it was originally agreed that you would be returned the money at the end of the lease or term deposit.

The technical grounds on which your claim is based will largely depend on the history of your relationship with the property owners, any written agreements signed at the time of the deposit, and any verbal or written variations to the agreement during the life of the term deposit or lease. You should also note that, although technically you may be entitled to the money, you may face practical obstacles in its recovery, such as the complexity and expense of commencing formal legal proceedings and gathering enough evidence to prove your claim.

Suggested way forward

You should start by speaking to the bank about the problem. If they are unable to help, you should speak to a lawyer who can assess your situation and advise you of the best course of action to recover your money. By pressing the “Consult a Lawyer” button, LawAdvisor can help you search for experienced lawyers and obtain fee proposals for their services. Costs for legal advice and representation will vary between providers based on experience and the scope of services.