678.590 - Multiple-party accounts: Proportional ownership; tenancy in common. - Nevada Statutes

678.590  Multiple-party accounts: Proportional ownership; tenancy in common.

      1.  A multiple-party account which provides that sums on deposit or in shares may be paid on demand to any one of two or more parties is deemed to belong to the parties in proportion to their net contributions.

      2.  In the absence of satisfactory proof of net contributions, those who are parties to a multiple-party account shall be deemed to be tenants in common of the deposits.

      3.  The death of any party to a multiple-party account has no effect on the beneficial ownership of the account other than to transfer the decedent’s right to his or her estate unless the account is a trust or joint tenancy.

      (Added to NRS by 1975, 384)