Leverette v. Ainsworth
| Decision Date | 26 November 1945 |
| Docket Number | 35967. |
| Citation | 199 Miss. 652,23 So.2d 798 |
| Court | Mississippi Supreme Court |
| Parties | LEVERETTE v. AINSWORTH. |
S. C. Mims and Cowles Horton, both of Grenada, for appellant.
Roberson & Luckett, of Clarksdale, for appellee.
Immediately prior to the transaction here directly involved, F. M Leverette had been having some difficulties which had incited him to shift his bank accounts, and which culminated in his making a deposit on December 11, 1943, in the Grenada Trust & Banking Company of $5,100 to the credit of his mother the appellant here. The deposit slip which evidenced this deposit showed that the deposit was to the credit of Mrs Annie C. Leverette, but it bore the notation on its face made by the cashier at the direction of the depositor as follows 'This A/C subject to check by F. M. Leverette at any time,' and the signature card, contemporaneously taken to cover the account, carried the statement: 'Authorized signatures, F. M. Leverette, subject to check by F. M. Leverette at any time.'
F. M. Leverette died on April 4, 1944, and appellee was duly appointed administratrix of his estate. On May 10, 1944, she filed her bill as administratrix to have the deposit declared the property of the estate. Upon final hearing a decree was entered in accordance with the prayer of the bill, and we think the court was correct.
It is well settled that a person may make a gift in severalty to another by making a deposit of the subject of the gift in a bank to the credit of the donee provided the donor in so doing retains no such control over the deposit as will enable him to withdraw it for his own personal uses or purposes. If he retains a control such as mentioned, and as was retained in the present case, the transaction will be ineffective as a gift in severalty and the deposit will remain the property of the depositor. Meyer v. Meyer, 106 Miss. 638, 64 So. 420; Yates' Estate v. Alabama-Mississippi Conference Ass'n, 179 Miss. 642, 176 So. 534; Smith v. Taylor, 183 Miss. 542, 184 So. 423; 32 Am.Jur. Gifts, Sec. 101; 38 C.J.S., Gifts, § 49.
It in equally well settled that a person may make a gift in joint tenure by making a deposit of the subject of the gift in a bank in such a manner that it shall stand to the credit, as joint owners, of the donor and the donee, as where, for illustration, John Doe makes a deposit to the credit of 'John Doe or Richard Roe,' which under the statute Section 5205, Code 1942, Section 3809, Code 1930, would raise the presumption that the deposit was intended to be in joint ownership, and by the further force of the statute, subject to withdrawal by either of the joint owners. ...
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