Skip to content
Georgia Commons
Menu

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.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. (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.#

  2. (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.#

  3. (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.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

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.