15-6-103. 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 payee during his lifetime and not to the P.O.D. payee or payees; if two (2) or more parties are named as original payees, during their lifetimes rights as between them are governed by subsection (a) of this section.
(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 (2) or more parties are named as trustee on the account, during their lifetimes beneficial rights as between them are governed by subsection (a) of this section. If there is an irrevocable trust, the account belongs beneficially to the beneficiary.
History:
[I.C., sec. 15-6-103, as added by 1971, ch. 111, sec. 1, p. 233.]
Structure Idaho Code
Title 15 - UNIFORM PROBATE CODE
Chapter 6 - NONPROBATE TRANSFERS
Part 1 - MULTIPLE-PARTY ACCOUNTS
Section 15-6-101 - DEFINITIONS.
Section 15-6-102 - OWNERSHIP AS BETWEEN PARTIES, AND OTHERS — PROTECTION OF FINANCIAL INSTITUTIONS.
Section 15-6-103 - OWNERSHIP DURING LIFETIME.
Section 15-6-104 - RIGHT OF SURVIVORSHIP.
Section 15-6-105 - EFFECT OF WRITTEN NOTICE TO FINANCIAL INSTITUTION.
Section 15-6-106 - ACCOUNTS AND TRANSFERS NONTESTAMENTARY.
Section 15-6-107 - LIABILITY OF NONPROBATE TRANSFEREES FOR CREDITOR CLAIMS AND STATUTORY ALLOWANCES.
Section 15-6-108 - FINANCIAL INSTITUTION PROTECTION — PAYMENT ON SIGNATURE OF ONE PARTY.
Section 15-6-110 - FINANCIAL INSTITUTION PROTECTION — PAYMENT OF P.O.D. ACCOUNT.
Section 15-6-111 - FINANCIAL INSTITUTION PROTECTION — PAYMENT OF TRUST ACCOUNT.
Section 15-6-112 - FINANCIAL INSTITUTION PROTECTION — DISCHARGE.
Section 15-6-113 - FINANCIAL INSTITUTION PROTECTION — SETOFF.