Before choosing the checking account that best suits your needs, it is a good idea to be aware of your options. Know, therefore, all the implications for the currency.
Especially since when it comes to checking accounts, there are important interests at stake. This is the economy.
However, more and more people are choosing to open a bank account Stream Joint contract. This choice is also dictated by the fact that the expenses of the account itself do not multiply.
It is, in fact, a tool specifically used by couples and families. By virtue of the emotional ties, which are unfortunately sometimes very complex, it avoids opening two separate checking accounts as well for savings.
This does not detract from the fact that it is even business partners. For example, the shareholders of a company may decide to become joint shareholders of a bank account.
Obviously, there are different types of joint accounts. Before opening one, it’s a good idea to carefully weigh all the pros and cons. Comparison with trusted experts in this sector.
Today, with ProiezionidiBorsa’s legal and tax advisors, we’ll talk about joint checking accounts, and weigh their advantages and disadvantages.
In particular, we’ll focus on 5 totally unfavorable conditions for shared checking accounts that few rate when they go to the bank.
The five most unfavorable terms for joint checking accounts that few estimate when they go to the bank
The matter is very delicate. And the abundance of jurisprudence is both.
In general, it is assumed that the funds in joint checking accounts belong to their owners in equal parts.
Under this assumption of co-ownership, the money in the bank account is 50% owned by each account holder.
However, by clicking here, readers will be able, in light of a recent order by the Supreme Court of Cassation, to realize that this does not always happen.
Funds in a joint account are not always divided equally among the shareholders.
However, to get around the joint ownership assumption, the common owner who claims that the joint account is a simulation has to rightfully prove this.
Indeed, it is burdened by simulation testing.
For example, those who have never made payments to the joint current account will not be able to present rights to its balance.
This aspect relates to the internal relations between account holders regulated by art. 1298 Paragraph 2 of the Civil Code and is one of 5 very unfavorable conditions for joint checking accounts that few evaluate when they go to the bank.
The death of one of the owners
The second most unfavorable condition for joint checking accounts, which it is always good to evaluate before choosing a joint account rather than another is the following.
In the event that there is a double signature or a joint signature of the joint current account and one of the owners passes away, the account will inevitably be frozen until all the heirs are identified. In this regard, we recommend that you read this article by clicking Who is the Where experts explain the administrative procedure to be followed to open a joint current account.
Another unfavorable situation
The third totally unfavorable case for joint checking accounts that little is known about when they go to the bank is related to a specific case and it is as follows.
Withdrawing amounts from the joint current account in excess of half the amount deposited by a shareholder. There is always a possibility that a shareholder will withdraw all or nearly all of the money in the bank.
Although such behavior incorporates the crime of embezzlement, the bank will not be held responsible and getting your money back in these cases will not always be easy.
Debts, Credits and Crimes
On the other hand, the fourth condition relates to the possibility that if one of the co-owners with a separate or joint signature makes a debt contract, the creditors can forfeit 50% of the money in the account.
The fifth concerns the possible preventive seizure of the entire amount available in the joint account with a person under investigation.
In these cases, the precautionary measure will not take into account the assumptions or limitations between creditors and debtors referred to in the articles of civil law referred to above.
Preserving the right of the person not participating in the investigation to prove his exclusive ownership of the amounts. And the absolute strangeness of money is in unlawful behavior.
Here we’ve just analyzed the five absolutely unfavorable conditions for joint checking accounts that few evaluate when they go to the bank.