Tenancy, Held in--Joint

ID: CCA_2009062208535842 Number: 200929012
Release Date: 7/17/2009
Office: ---
UILC: 6321.01-50
From: ---
Sent: Monday, June 22, 2009 8:54:10 AM
To: ---
Cc: ---
Subject: RE: CCA on transfers and joint accounts
Hi: I believe that the parties did sign an agreement indicating that this was a joint tenancy with right of survivorship; however, the PA. law regarding interests in joint tenancies in bank accounts is somewhat unique. According to PA law, while the parties are alive each party has an interest in the account in the amount that they put in the account, and we look to state law to determine property interests. This is not a "common law" joint tenancy; it is a state statutory joint tenancy.