State Codes and Statutes

Statutes > Utah > Title-75 > Chapter-06 > 75-6-104

75-6-104. Right of survivorship.
(1) Sums remaining on deposit at the death of a party to a joint account belong to thesurviving party or parties as against the estate of the decedent unless there is clear and convincingevidence of a different intention at the time the account is created. If there are two or moresurviving parties, their respective ownerships during lifetime shall be in proportion to theirprevious ownership interests under Section 75-6-103 augmented by an equal share for eachsurvivor of any interest the decedent may have owned in the account immediately before hisdeath; and the right of survivorship continues between the surviving parties.
(2) If the account is a P.O.D. account:
(a) On death of one of two or more original payees the rights to any sums remaining ondeposit are governed by Subsection (1);
(b) On death of the sole original payee or of the survivor of two or more original payees,any sums remaining on deposit belong to the P.O.D. payee or payees if surviving, or to thesurvivor of them if one or more die before the original payee; if two or more P.O.D. payeessurvive, there is no right of survivorship in event of death of a P.O.D. payee thereafter unless theterms of the account or deposit agreement expressly provide for survivorship between them.
(3) If the account is a trust account:
(a) On death of one of two or more trustees, the rights to any sums remaining on depositare governed by Subsection (1);
(b) On death of the sole trustee or the survivor of two or more trustees, any sumsremaining on deposit belong to the person or persons named as beneficiaries, if surviving, or tothe survivor of them if one or more die before the trustee, unless there is clear evidence of acontrary intent; and if two or more beneficiaries survive, there is no right of survivorship in eventof death of any beneficiary thereafter unless the terms of the account or deposit agreementexpressly provide for survivorship between them.
(4) In other cases, the death of any party to a multiple-party account has no effect onbeneficial ownership of the account other than to transfer the rights of the decedent as part of hisestate.
(5) A right of survivorship arising from the express terms of the account or under thissection, a beneficiary designation in a trust account, or a P.O.D. payee designation, cannot bechanged by will.

Amended by Chapter 194, 1977 General Session