Metropolitan Savings Bank v. Murphy

Citations

• 82 Md. 314
• 31 L.R.A. 454
• 33 A. 640
• 1896 Md. LEXIS 7

Syllabus

<p>Savings Bank Deposit to the Order of Husband or Wife, Balance Payable to the Survivor — Gifts—Testamentary Disposition.</p> <p>A man deposited a sum of money in a Savings Bank in the names oí himself and wife, “subject to the order of either, the balance at the death of either to belong to the survivor.” After opening this account the husband made no withdrawals therefrom. Held, that upon his death the bank was justified in paying such deposit to the surviving wife, and that the administrator of the husband had no claim therefor against the bank.</p> <p>After a party had kept an accout in a Savings Bank for some years in his own name he directed that the amount then to his credit should be transferred to a new account in the name of himself and wife, subject to the order of either, the balance to belong to the survivor. At the time of opening the first account he had designated on a book kept by the bank his wife as the person to whom the money should be paid in the- event of his death, unless otherwise disposed of. Held,</p> <p>ist. That the two accounts were distinct and separate transactions.</p> <p>2nd. That the first account was not in the nature of a testamentary disposition.</p>