My partner and I share a property (both on title). I manage the property (using Stessa), but the mortgage is only in her name. Our mortgage company doesn’t allow setting up auto pay from an account in any name other than the mortgage holder. I initially created a Stessa Cash management account in my name. It would have been awesome if I could have added my partner as a joint owner of that account so that I could pay the mortgage from this account.
Instead I ended up having to open a separate cash management account under her name (separate entity). This was a relatively painless workaround as this account is linked to our property and it was easy for me to transfer funds between the two, but joint accounts would still be great!
Agree here, we’re using cash management account and my wife and I jointly own the properties. I’d actually like her name on the bank accounts. How do we set beneficial owner on an account? What happens in the case of my death, on our other accounts (capOne, etc) we can set a beneficial owner in case something happens to the primary account owner. Definitely feel like this is a very important topic
I just opened a cash management account and then realized there was no way to set a beneficiary or a ‘payable on death’ name etc. This is a dealbreaker for me depositing any significant amount of money until this feature is in place.
We have had to do this as well. Another unfortunate side effect is if you set up auto pay for a credit card with the account under the other’s name, the payment will be returned. This caused us to be late on a credit card payment…