Arizona Laws 14-6216. Community property; effect of account; right of survivorship
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A. A deposit of community property in an account does not alter the community character of the property or community rights in the property.
Terms Used In Arizona Laws 14-6216
- Account: means a contract of deposit between a depositor and a financial institution and includes a checking account, savings account, certificate of deposit and share account. See Arizona Laws 14-6201
- Community property: means that property of a husband and wife that is acquired during the marriage and that is community property as prescribed in section 25-211. See Arizona Laws 14-1201
- Property: includes both real and personal property. See Arizona Laws 1-215
- Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
- Terms of the account: includes the deposit agreement and other terms and conditions of the contract of deposit and includes the contract form. See Arizona Laws 14-6201
B. A right of survivorship between parties married to each other arising from the express terms of the account or section 14-6212 may not be altered by will.