Section 524.6-206 — Accounts And Transfers Nontestamentary.
524.6-206 ACCOUNTS AND TRANSFERS NONTESTAMENTARY. Any transfers resulting from the application of section 524.6-204 are effective by reason of the account contracts involved and this statute, and are not to be considered as subject to probate except as to the transfers expressly changed by will, as provided for by section 524.6-204, clause (d). History: 1973 […]
Section 524.6-207 — Rights Of Creditors.
524.6-207 RIGHTS OF CREDITORS. No multiple-party account will be effective against an estate of a deceased party to transfer to a survivor sums needed to pay debts, taxes, and expenses of administration, including statutory allowances to the surviving spouse, minor children and dependent children or against the state or a county agency with a claim […]
Section 524.6-201 — Definitions.
524.6-201 DEFINITIONS. Subdivision 1. Scope. As used in sections 524.6-201 to 524.6-214, the terms defined in this section have the meanings given them. Subd. 2. Account. “Account” means a contract of deposit of funds between a depositor and a financial institution, and includes a checking account, savings account, certificate of deposit, share account and other […]
Section 524.6-202 — Ownership As Between Parties, And Others; Protection Of Financial Institutions.
524.6-202 OWNERSHIP AS BETWEEN PARTIES, AND OTHERS; PROTECTION OF FINANCIAL INSTITUTIONS. The provisions of sections 524.6-203 to 524.6-205 concerning beneficial ownership as between parties, or as between parties and P.O.D. payees or beneficiaries of multiple-party accounts, are relevant only to controversies between these persons and their creditors and other successors, and have no bearing on […]
Section 524.6-203 — Ownership During Lifetime.
524.6-203 OWNERSHIP DURING LIFETIME. (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 purchasing or depositing party during […]
Section 524.6-204 — Right Of Survivorship.
524.6-204 RIGHT OF SURVIVORSHIP. (a) Sums remaining on deposit at the death of a party to a joint account belong to the surviving party or parties as against the estate of the decedent unless: (1) there is clear and convincing evidence of a different intention; or (2) there is a different disposition made by a […]