Carlton v. Baker, CA79-181

• Decision Date: 19 December 1979
• Docket Number: No. CA79-181,CA79-181
• Citation: Carlton v. Baker, 591 S.W.2d 696, 267 Ark. 949 (Ark. App. 1979)
• Parties: William Glen CARLTON, Administrator, Appellant, v. Barbara Ann BAKER, Bank of Northeast Arkansas, Appellees.
• Court: Arkansas Court of Appeals

Page 696

591 S.W.2d 696

267 Ark. 949

William Glen CARLTON, Administrator, Appellant, v. Barbara Ann BAKER, Bank of Northeast Arkansas, Appellees.

No. CA79-181.

Court of Appeals of Arkansas.

Dec. 19, 1979 Released by Court of Appeals for Publication Jan. 9, 1980.

Warren E. Dupwe, Jonesboro, for appellant.

Bill W. Bristow, Jonesboro, for appellees.

PENIX, Judge.

This case was appealed to the Arkansas Supreme Court and by that Court assigned to the Arkansas Court of Appeals pursuant to Rule 29(3).

William Glen Carlton, Administrator of the Estate of Rebecca C. Self, appellant, petitioned the probate court to have six certificates of deposit declared to be the property of decedent's estate rather than the property of Barbara Ann Baker, appellee, and niece of decedent. Barbara Ann Baker, Bank of Northeast Arkansas, and The Caraway Bank were all made respondents and the case was transferred to the chancery court.

After a hearing on the matter the court found the three certificates purchased at Bank of Caraway were the property of the estate. There is no appeal from this finding.

The court further found the three certificates purchased from the Bank of Northeast Arkansas to be the property of Barbara Ann Baker. The Administrator, Carlton, brings this appeal.

The decedent, Rebecca C. Self, purchased a $5,000 certificate of deposit #A1960 on October 14, 1975. She designated it was to be in the name of Rebecca Self or Barbara Ann Baker, either or the survivor of either. At the time of purchase she affixed her signature to a receipt for the certificate. On September 15, 1976 Ms. Self purchased another $5,000 certificate #A1446 with the same designation as #A1960 but she signed no document of any kind. She signed no receipt, signature card, nor tickler. On January 12, 1977, Marie Bertrand, acting as Ms. Self's agent, purchased certificate #A2069. Ms. Bertrand signed a receipt and a tickler. #A2069 was also for $5,000 and had the same designation as the other two.

We believe Rebecca C. Self intended for the three certificates of deposit to go to her niece Barbara Ann Baker. However, Ark.Stat. § 67-552 Repl.1966 specifically provides the procedure whereby a right of survivorship can be created in a certificate of deposit.

(a) If the person opening such account, or purchasing such certificate of deposit, designates in writing to the banking institution that the account or the certificate of deposit is to be held in "joint tenancy" or in "joint tenancy with right of survivorship," or that the account or certificates of deposit shall be payable to the survivor or survivors of the persons named in such account or certificate of deposit, then such account or certificate of deposit and all additions thereto shall be the property of such persons as joint tenants with right of survivorship. . . .

More is required than intent.

In interpreting § 67-552 our Supreme Court has held there must be substantial compliance with the designation in writing requirement of the statute. Cook v. Bevill, 246 Ark. 805, 440 S.W.2d 570 (1969); Willey v. Murphy, 247 Ark. 839, 448 S.W.2d 341 (1969); Note, 24 Ark.L.Rev. 361 (1970-71). Again in Justice v. Ringgold, 254 Ark. 11, 491 S.W.2d 382 (1973) the Supreme Court restated the rule that no survivorship interest is created where the decedent does not affix his signature to an instrument complying with the statutory requirement. The above cases appear to require a) some writing, b) signed by purchaser, c) indication of intention in order to Substantially comply.

Certificate #A1960 has a copy of a receipt bearing Ms. Self's signature. Certificate #A1446 is unsigned and nothing appears in the record to be Ms. Self's signature nor that of her agent. In the case of Certificate #A2069 there appears the...