Official Code of Georgia Annotated
Title 7. BANKING AND FINANCE · Chapter 1. FINANCIAL INSTITUTIONS · Article 8. MULTIPLE-PARTY ACCOUNTS
7-1-812. Ownership during lifetime.
Current through: Including Acts of the 2025 Regular Session of the General Assembly.
- (a)
A joint account belongs, during the lifetime of all parties, to the parties in proportion to the net contributions by each to the sums on deposit, unless there is clear and convincing evidence of a different intent.#
- (b)
A P.O.D. account belongs to the original payee during his lifetime and not to the P.O.D. payee or payees; if two or more parties are named as original payees, during their lifetimes the account belongs to them in proportion to the net contributions by each to the sums on deposit, unless there is clear and convincing evidence of a different intent.#
- (c)
Unless a contrary intent is manifested by the terms of the account or the deposit agreement or there is other clear and convincing evidence of an irrevocable trust, a trust account belongs beneficially to the trustee during his lifetime; and, if two or more parties are named as trustee on the account, during their lifetimes the account belongs to them in proportion to the net contributions by each to the sums on deposit, unless there is clear and convincing evidence of a different intent. If there is an irrevocable trust, the account belongs beneficially to the beneficiary.#
History
Code 1933, § 41A-3803, enacted by Ga. L. 1976, p. 1388, § 8.
Cross references
Joint tenancy with survivorship generally, § 44-6-190.
Law reviews
For article, “Wills, Trusts & Administration of Estates,” see 53 Mercer L. Rev. 499 (2001).
Read the official page (the state's PDF, opened at the page this text was read from).
Current through: Including Acts of the 2025 Regular Session of the General Assembly.
Text read from t7-t8-(v5)-2024-pdf.pdf, Volume V5, 2024 edition, page 496; merge action: carried; file SHA-256 5c69f28428d8.