2011 California Code
Probate Code
DIVISION 5. NONPROBATE TRANSFERS [5000 - 5705]
ARTICLE 2. Definitions
Section 5136
(a) Party means a person who, by the terms of the account, has a present right, subject to request, to payment from a multiple-party account other than as an agent.
(b) A P.O.D. payee is a party, by reason of being a P.O.D. payee, only after the account becomes payable to the payee by reason of surviving all persons named as original payees.
(c) A beneficiary of a Totten trust account is a party, by reason of being a beneficiary, only after the account becomes payable to the beneficiary by reason of surviving all persons named as trustees.
(Enacted by Stats. 1990, Ch. 79.)
Disclaimer: These codes may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
