For the purposes of this chapter, if an account is expressly described in the deposit agreement as a “tenancy in common” account, no right of survivorship arises from the terms of the account or under Section 5302 unless the terms of the account or deposit agreement expressly provide for survivorship.
Cal. Prob. Code § 5306
Ownership Between Parties and Their Creditors and Successors
Known as the California Multiple-Party Accounts Law
The act spans §§ 5100–5407 (38 sections).
Enacted by Stats. 1990, Ch. 79.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.