362.470. 1. When a deposit is made by any person in thename of the depositor and any one or more other persons, whetherminor or adult, as joint tenants or in form to be paid to any oneor more of them, or the survivor or survivors of them and whetheror not the names are stated in the conjunctive or the disjunctiveor otherwise, the deposit thereupon and any additions theretomade by any of these persons, upon the making thereof, shallbecome the property of these persons as joint tenants, and thesame, together with all interest thereon, shall be held for theexclusive use of the persons so named, and may be paid to any oneof such persons during his lifetime, or to any one of thesurvivors of them after the death of any one or more of them.The making of a deposit in such form, and the making of additionsthereto, in the absence of fraud or undue influence, shall beconclusive evidence in any action or proceeding to which eitherthe bank or trust company or any survivor is a party of theintention of all the parties to the account to vest title to theaccount and the additions thereto and all interest thereon in thesurvivor. By written instructions of all joint tenants given tothe bank or trust company they may require the signatures of morethan one of such persons during their lifetimes or of more thanone of the survivors after the death of any one of them on anyorder for payment, withdrawal, check endorsement or receipt, inwhich case the bank shall honor orders to pay or withdrawals andmake payments of interest only in accordance with suchinstructions, but no such instructions shall limit the right ofthe sole survivor or of all of the survivors to all or any partof any such deposit or interest thereon. The payment and thereceipt or acquittance of the one to whom the payment is made asprovided in this section shall be a valid and sufficient releaseand discharge to the bank or trust company, whether any one ormore of the persons named is dead or alive, for all payments madeon account of such deposit prior to the receipt by the bank ortrust company of notice in writing signed by any one of the jointtenants not to pay the deposit in accordance with the termsthereof. After receipt of such notice a bank or trust companymay refuse without liability to honor any check or other order topay, withdrawal, receipt, or to pay out any interest thereonpending determination of the rights of the parties. No bank ortrust company paying any survivor in accordance with theprovisions of this section shall thereby be liable for anyestate, inheritance or succession taxes which may be due thisstate. As to any minor who is a joint tenant as provided in thissection, all of the provisions of section 362.465 shall apply.
2. If more than two persons are named as such depositors andone of them dies, the deposit becomes the property of thesurvivors as joint tenants.
3. The pledge or assignment to the bank or trust company ofall or part of a joint tenancy deposit or the interest thereon,signed by any joint tenant or tenants, whether minor or adult,upon whose signature or signatures withdrawals may be made fromthe account shall be a valid pledge or transfer to the bank ortrust company of that part of the deposit pledged or assigned,and shall not operate to sever or terminate the joint tenancy ofor any part of the account, subject to the effect of the pledgeor assignment.
4. The adjudication of incompetency of any one or more jointtenants shall not operate to sever or terminate the joint tenancyof any part of the deposit and the deposit may be withdrawn, paidout or pledged by any one or more of the joint tenants in thesame manner as though the adjudication of incompetency had notbeen made except that any payment, withdrawal or pledge on behalfof the incompetent joint tenant shall be by his guardian.
5. Any deposit made in the name of two persons or thesurvivor thereof who are husband and wife shall be considered atenancy by the entirety unless otherwise specified.
(1967) A deposit made by deceased depositor and in the name of deceased depositor "or" his brother was not in form to be paid to either, or the survivor of them, and did not comply with this section. Ison v. Ison (Mo.), 410 S.W.2d 65.
(1967) The use of the words "as tenants by the entirety" in relation to two persons who are not husband and wife creates no presumption of a joint tenancy. Horton v. Estate of Elmore (A.), 420 S.W.2d 48.
(1967) Certificates of deposit issued to the order of deceased or defendant were not within purview of statute and created no presumption of joint tenancy with the incident of survivorship, but account which is accompanied and commemorated by an integrated, unambiguous joint tenancy deposit contract of the parties constitutes the single and final memorial of the parties which may not be varied or changed by parol evidence. Melton v. Ensley (A.), 421 S.W.2d 44.
(1974) Overrules Jenkins v. Meyer and Wantuck v. United Savings and Loan Association. Held, this section creates a statutory joint tenancy and the strict common law requirements do not apply. Dietz v. Humphreys (Mo.), 507 S.W.2d 389.
(1975) Held that facts did not meet requirements for statutory joint tenancy. Smith v. Thomas (A.), 520 S.W.2d 132.
(1976) Where deposits and withdrawals were all made by person originally opening account and that person acting alone changed title of the account to read A or B and signature cards for a joint account were never signed, the account did not become a joint account and A's estate was entitled to proceeds. Matter of Estate of Bonacker (A.), 532 S.W.2d 898.
(1980) Before statutory joint tenancy can be created in bank account, there must be deposit made in name of depositor and any one or more other persons, and it must be made in form to be paid to any one or more of them. Thummel v. Thummel (A.), 609 S.W.2d 175.
(1980) Where statute creating joint account is not complied with, but bank deposit is payable to husband and wife, but account is not in their names as husband and wife, account is presumed to be held in estate by entirety whether husband or wife or both furnished monies that went into account. Thummel v. Thummel (A.), 609 S.W.2d 175.
362.470. 1. When a deposit is made by any person in thename of the depositor and any one or more other persons, whetherminor or adult, as joint tenants or in form to be paid to any oneor more of them, or the survivor or survivors of them and whetheror not the names are stated in the conjunctive or the disjunctiveor otherwise, the deposit thereupon and any additions theretomade by any of these persons, upon the making thereof, shallbecome the property of these persons as joint tenants, and thesame, together with all interest thereon, shall be held for theexclusive use of the persons so named, and may be paid to any oneof such persons during his lifetime, or to any one of thesurvivors of them after the death of any one or more of them.The making of a deposit in such form, and the making of additionsthereto, in the absence of fraud or undue influence, shall beconclusive evidence in any action or proceeding to which eitherthe bank or trust company or any survivor is a party of theintention of all the parties to the account to vest title to theaccount and the additions thereto and all interest thereon in thesurvivor. By written instructions of all joint tenants given tothe bank or trust company they may require the signatures of morethan one of such persons during their lifetimes or of more thanone of the survivors after the death of any one of them on anyorder for payment, withdrawal, check endorsement or receipt, inwhich case the bank shall honor orders to pay or withdrawals andmake payments of interest only in accordance with suchinstructions, but no such instructions shall limit the right ofthe sole survivor or of all of the survivors to all or any partof any such deposit or interest thereon. The payment and thereceipt or acquittance of the one to whom the payment is made asprovided in this section shall be a valid and sufficient releaseand discharge to the bank or trust company, whether any one ormore of the persons named is dead or alive, for all payments madeon account of such deposit prior to the receipt by the bank ortrust company of notice in writing signed by any one of the jointtenants not to pay the deposit in accordance with the termsthereof. After receipt of such notice a bank or trust companymay refuse without liability to honor any check or other order topay, withdrawal, receipt, or to pay out any interest thereonpending determination of the rights of the parties. No bank ortrust company paying any survivor in accordance with theprovisions of this section shall thereby be liable for anyestate, inheritance or succession taxes which may be due thisstate. As to any minor who is a joint tenant as provided in thissection, all of the provisions of section 362.465 shall apply.
2. If more than two persons are named as such depositors andone of them dies, the deposit becomes the property of thesurvivors as joint tenants.
3. The pledge or assignment to the bank or trust company ofall or part of a joint tenancy deposit or the interest thereon,signed by any joint tenant or tenants, whether minor or adult,upon whose signature or signatures withdrawals may be made fromthe account shall be a valid pledge or transfer to the bank ortrust company of that part of the deposit pledged or assigned,and shall not operate to sever or terminate the joint tenancy ofor any part of the account, subject to the effect of the pledgeor assignment.
4. The adjudication of incompetency of any one or more jointtenants shall not operate to sever or terminate the joint tenancyof any part of the deposit and the deposit may be withdrawn, paidout or pledged by any one or more of the joint tenants in thesame manner as though the adjudication of incompetency had notbeen made except that any payment, withdrawal or pledge on behalfof the incompetent joint tenant shall be by his guardian.
5. Any deposit made in the name of two persons or thesurvivor thereof who are husband and wife shall be considered atenancy by the entirety unless otherwise specified.
(1967) A deposit made by deceased depositor and in the name of deceased depositor "or" his brother was not in form to be paid to either, or the survivor of them, and did not comply with this section. Ison v. Ison (Mo.), 410 S.W.2d 65.
(1967) The use of the words "as tenants by the entirety" in relation to two persons who are not husband and wife creates no presumption of a joint tenancy. Horton v. Estate of Elmore (A.), 420 S.W.2d 48.
(1967) Certificates of deposit issued to the order of deceased or defendant were not within purview of statute and created no presumption of joint tenancy with the incident of survivorship, but account which is accompanied and commemorated by an integrated, unambiguous joint tenancy deposit contract of the parties constitutes the single and final memorial of the parties which may not be varied or changed by parol evidence. Melton v. Ensley (A.), 421 S.W.2d 44.
(1974) Overrules Jenkins v. Meyer and Wantuck v. United Savings and Loan Association. Held, this section creates a statutory joint tenancy and the strict common law requirements do not apply. Dietz v. Humphreys (Mo.), 507 S.W.2d 389.
(1975) Held that facts did not meet requirements for statutory joint tenancy. Smith v. Thomas (A.), 520 S.W.2d 132.
(1976) Where deposits and withdrawals were all made by person originally opening account and that person acting alone changed title of the account to read A or B and signature cards for a joint account were never signed, the account did not become a joint account and A's estate was entitled to proceeds. Matter of Estate of Bonacker (A.), 532 S.W.2d 898.
(1980) Before statutory joint tenancy can be created in bank account, there must be deposit made in name of depositor and any one or more other persons, and it must be made in form to be paid to any one or more of them. Thummel v. Thummel (A.), 609 S.W.2d 175.
(1980) Where statute creating joint account is not complied with, but bank deposit is payable to husband and wife, but account is not in their names as husband and wife, account is presumed to be held in estate by entirety whether husband or wife or both furnished monies that went into account. Thummel v. Thummel (A.), 609 S.W.2d 175.
362.470. 1. When a deposit is made by any person in thename of the depositor and any one or more other persons, whetherminor or adult, as joint tenants or in form to be paid to any oneor more of them, or the survivor or survivors of them and whetheror not the names are stated in the conjunctive or the disjunctiveor otherwise, the deposit thereupon and any additions theretomade by any of these persons, upon the making thereof, shallbecome the property of these persons as joint tenants, and thesame, together with all interest thereon, shall be held for theexclusive use of the persons so named, and may be paid to any oneof such persons during his lifetime, or to any one of thesurvivors of them after the death of any one or more of them.The making of a deposit in such form, and the making of additionsthereto, in the absence of fraud or undue influence, shall beconclusive evidence in any action or proceeding to which eitherthe bank or trust company or any survivor is a party of theintention of all the parties to the account to vest title to theaccount and the additions thereto and all interest thereon in thesurvivor. By written instructions of all joint tenants given tothe bank or trust company they may require the signatures of morethan one of such persons during their lifetimes or of more thanone of the survivors after the death of any one of them on anyorder for payment, withdrawal, check endorsement or receipt, inwhich case the bank shall honor orders to pay or withdrawals andmake payments of interest only in accordance with suchinstructions, but no such instructions shall limit the right ofthe sole survivor or of all of the survivors to all or any partof any such deposit or interest thereon. The payment and thereceipt or acquittance of the one to whom the payment is made asprovided in this section shall be a valid and sufficient releaseand discharge to the bank or trust company, whether any one ormore of the persons named is dead or alive, for all payments madeon account of such deposit prior to the receipt by the bank ortrust company of notice in writing signed by any one of the jointtenants not to pay the deposit in accordance with the termsthereof. After receipt of such notice a bank or trust companymay refuse without liability to honor any check or other order topay, withdrawal, receipt, or to pay out any interest thereonpending determination of the rights of the parties. No bank ortrust company paying any survivor in accordance with theprovisions of this section shall thereby be liable for anyestate, inheritance or succession taxes which may be due thisstate. As to any minor who is a joint tenant as provided in thissection, all of the provisions of section 362.465 shall apply.
2. If more than two persons are named as such depositors andone of them dies, the deposit becomes the property of thesurvivors as joint tenants.
3. The pledge or assignment to the bank or trust company ofall or part of a joint tenancy deposit or the interest thereon,signed by any joint tenant or tenants, whether minor or adult,upon whose signature or signatures withdrawals may be made fromthe account shall be a valid pledge or transfer to the bank ortrust company of that part of the deposit pledged or assigned,and shall not operate to sever or terminate the joint tenancy ofor any part of the account, subject to the effect of the pledgeor assignment.
4. The adjudication of incompetency of any one or more jointtenants shall not operate to sever or terminate the joint tenancyof any part of the deposit and the deposit may be withdrawn, paidout or pledged by any one or more of the joint tenants in thesame manner as though the adjudication of incompetency had notbeen made except that any payment, withdrawal or pledge on behalfof the incompetent joint tenant shall be by his guardian.
5. Any deposit made in the name of two persons or thesurvivor thereof who are husband and wife shall be considered atenancy by the entirety unless otherwise specified.
(1967) A deposit made by deceased depositor and in the name of deceased depositor "or" his brother was not in form to be paid to either, or the survivor of them, and did not comply with this section. Ison v. Ison (Mo.), 410 S.W.2d 65.
(1967) The use of the words "as tenants by the entirety" in relation to two persons who are not husband and wife creates no presumption of a joint tenancy. Horton v. Estate of Elmore (A.), 420 S.W.2d 48.
(1967) Certificates of deposit issued to the order of deceased or defendant were not within purview of statute and created no presumption of joint tenancy with the incident of survivorship, but account which is accompanied and commemorated by an integrated, unambiguous joint tenancy deposit contract of the parties constitutes the single and final memorial of the parties which may not be varied or changed by parol evidence. Melton v. Ensley (A.), 421 S.W.2d 44.
(1974) Overrules Jenkins v. Meyer and Wantuck v. United Savings and Loan Association. Held, this section creates a statutory joint tenancy and the strict common law requirements do not apply. Dietz v. Humphreys (Mo.), 507 S.W.2d 389.
(1975) Held that facts did not meet requirements for statutory joint tenancy. Smith v. Thomas (A.), 520 S.W.2d 132.
(1976) Where deposits and withdrawals were all made by person originally opening account and that person acting alone changed title of the account to read A or B and signature cards for a joint account were never signed, the account did not become a joint account and A's estate was entitled to proceeds. Matter of Estate of Bonacker (A.), 532 S.W.2d 898.
(1980) Before statutory joint tenancy can be created in bank account, there must be deposit made in name of depositor and any one or more other persons, and it must be made in form to be paid to any one or more of them. Thummel v. Thummel (A.), 609 S.W.2d 175.
(1980) Where statute creating joint account is not complied with, but bank deposit is payable to husband and wife, but account is not in their names as husband and wife, account is presumed to be held in estate by entirety whether husband or wife or both furnished monies that went into account. Thummel v. Thummel (A.), 609 S.W.2d 175.
