My question involves court procedures for the state of: Florida
I am a judgment debtor. I have a bank account, jointly with my wife. My wife opened that account and I joined that after several months. When I joined the account, the lawsuit was not filed.
In Beal Bank v. Almand and Associates, 780 So. 2d 45 (Fla. 2001), the Court said:
“Property held as a tenancy by the entireties possesses six characteristics: (1) unity of possession (joint ownership and control); (2) unity of interest (the interests in the account must be identical); (3) unity of title (the interests must have originated in the same instrument); (4) unity of time (the interests must have commenced simultaneously); (5) survivorship; and (6) unity of marriage (the parties must be married at the time the property became titled in their joint names).”
Based on this case law, our joint account is not tenancy by entirety because #4 is not fulfilled.
However, Section 655.79 states as follows:
“Any deposit or account made in the name of two persons who are husband and wife shall be considered a tenancy by the entirety unless otherwise specified in writing. The presumption created in this section may be overcome only by proof of fraud or undue influence or clear and convincing proof of a contrary intent. In the absence of such proof, all rights, title, interest, and claims in, to, and in respect of such deposits… “
When I joined the account, it was titled as joint tenants with the right of survivorship (JTRS). However, we did NOT indicate anywhere that we do not want “tenancy by entirety” .
I am not sure if Section 655.79 was created after 2001.
I would like to know if our joint account is tenancy by entirety or not for the creditor.
I am a judgment debtor. I have a bank account, jointly with my wife. My wife opened that account and I joined that after several months. When I joined the account, the lawsuit was not filed.
In Beal Bank v. Almand and Associates, 780 So. 2d 45 (Fla. 2001), the Court said:
“Property held as a tenancy by the entireties possesses six characteristics: (1) unity of possession (joint ownership and control); (2) unity of interest (the interests in the account must be identical); (3) unity of title (the interests must have originated in the same instrument); (4) unity of time (the interests must have commenced simultaneously); (5) survivorship; and (6) unity of marriage (the parties must be married at the time the property became titled in their joint names).”
Based on this case law, our joint account is not tenancy by entirety because #4 is not fulfilled.
However, Section 655.79 states as follows:
“Any deposit or account made in the name of two persons who are husband and wife shall be considered a tenancy by the entirety unless otherwise specified in writing. The presumption created in this section may be overcome only by proof of fraud or undue influence or clear and convincing proof of a contrary intent. In the absence of such proof, all rights, title, interest, and claims in, to, and in respect of such deposits… “
When I joined the account, it was titled as joint tenants with the right of survivorship (JTRS). However, we did NOT indicate anywhere that we do not want “tenancy by entirety” .
I am not sure if Section 655.79 was created after 2001.
I would like to know if our joint account is tenancy by entirety or not for the creditor.
Is Our Bank Account Tenancy by Entirety
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