CONTENT

  DEPARTMENTS



  DETAILS
Legend for Icons
 Article    Q&A

 Podcast  Video

 Blog  Discussions

PDF    Powerpoint
BankingQuestions.com Web

  Home >> Accounts >> Checking Accounts  
Ownership of Items Purchased on Joint Account

My wife and I shared a joint account while we were married. She purchased an item in her name while the account was open. Who does the item belong to now that we have split and closed the account?


The ownership of property is usually governed by the laws of the jurisdiction in which it's found. For example, in the U.S., several states have what are called "community property" laws, and ownership of whatever your former wife bought would depend on how those laws affected the purchase. You should consult a source that is familiar with the laws of the U.K for a more helpful answer.

Published on BankingQuestions.com 8/28/07