O.C.G.A.

O.C.G.A. § 7-1-817 (2019)

Payment from joint account after death or disability

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)

Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.

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Any sums in a joint account may be paid, on request, to any party without regard to whether any other party is incapacitated or deceased at the time the payment is demanded; but payment may not be made to the personal representative or heirs of a deceased party unless proof of death is presented to the financial institution showing that the decedent was the last surviving party or unless there is no right of survivorship under Code Section 7-1-813.

History

Code 1933, § 41A-3808, enacted by Ga. L. 1976, p. 1388, § 8.

Annotations

Law reviews. For article discussing nonjudicial

settlement of decedent’s estate, see 6 Ga. L. Rev. 74 (1971).

JUDICIAL DECISIONS Joint account holder entitled to withdraw all funds. - Under the terms of a joint account agreement and O.C.G.A. § 7-1-817, a daughter was authorized to withdraw all the funds in a joint account created by her father, mother, and herself, following the father’s death; the question of withdrawal was a separate question from whether she was entitled to the funds. Howard v. Leonard, 330 Ga. App. 331, 765 S.E.2d 466, 2014 Ga. App. LEXIS 830 (2014), cert. denied, No. S15C0636, 2015 Ga. LEXIS 211 (Ga. Mar. 30, 2015). Joint accounts. - Trial court erred to the extent the court applied the

presumption in O.C.G.A. § 7-1-813(a) to funds which the executors withdrew from the original joint accounts and placed in accounts solely in their name because to the extent they took funds in excess of their ownership from a joint account containing funds owned by two beneficiaries and placed those funds in an account in their name, they severed the joint account relationship and extinguished the presumption that the funds belonged to them. Shirley v. Sailors, 329 Ga. App. 850, 766 S.E.2d 201, 2014 Ga. App. LEXIS 785 (2014).

OPINIONS OF THE ATTORNEY GENERAL Editor’s notes. - In light of the similarity of the statutory provisions, opinions under former Code 1933, § 13-2039 are included in the annotations for this Code section. Effect of section. - Although former Code 1933, § 13-2039 (see now O.C.G.A.

§ 7-1-817) does not give the right of survivorship between two parties to a bank account, the statute protects a bank which makes a payment of an account to a survivor. 1958-59 Ga. Op. Att’y Gen. 16 (decided under former Code 1933, § 13-2039).

RESEARCH REFERENCES Am. Jur. 2d. 10 Am. Jur. 2d, Banks and Financial Institutions, § 662 et seq. C.J.S. 9 C.J.S., Banks and Banking, §§ 292, 293.

ALR. Conflict of laws as to disposition of and relative rights to bank deposits in the names of more than one person, 25 A.L.R.2d 1240.

Notes of Decisions

Cited in 6 cases, 1991–2014 · leading case: Howard v. Leonard, 765 S.E.2d 466 (Ga. Ct. App. 2014).

Sort: Relevance Newest Treatment

Howard v. Leonard, 765 S.E.2d 466 (Ga. Ct. App. 2014). · cites it 2× “]” OCGA § 7-1-817. See also OCGA § 7-1-810 (4) (a joint account is payable on request to “one or more of two or more parties”).”

Parker v. Peavey, 403 S.E.2d 213 (Ga. Ct. App. 1991). · cites it 2× “This right of survivorship vests at the death of a party to a joint account, and the terms may be changed only by closing the account and reopening it under another name, OCGA § 7-1-814 (1), or by “presentation to the financial institution of a modification agreement in a form…”

Echols v. Trust Co. Bank, 401 S.E.2d 565 (Ga. Ct. App. 1991). · cites it 4× “” OCGA § 7-1-813 is relevant to the issues presented in the case sub judice only indirectly via OCGA § 7-1-817. See OCGA § 7-1-811. OCGA § 7-1-817 provides that: “Any sums in a joint account may be paid, on request, to any party without regard to whether any other *341 party is…”

Shirley v. Sailors, 766 S.E.2d 201 (Ga. Ct. App. 2014). · cites it 2× “We find that the superior court erred to the extent it applied the presumption in OCGA § 7-1-813 (a) to funds which Sailors withdrew from the original joint accounts and placed in accounts solely in her name (or with her husband).”

Marketta Howard v. Ronald Leonard (Ga. Ct. App. 2014). · cites it 2× “” And the MPA Act provides that financial institutions may pay “[a]ny sums in a joint account .”

A.D. Shirley, Sr. v. Dorothy Ann Sailors (Ga. Ct. App. 2014). · cites it 2× “We find that the superior court erred to the extent it applied the presumption in OCGA § 7-1-813 (a) to funds which Sailors withdrew from the original joint accounts and placed in accounts solely in her name (or with her husband).”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.