Beal Bank, SSB v. Almand & Assocs.

710 So. 2d 608 (Fla. Dist. Ct. App. 1998)

 

RULE:

The plaintiff has the burden to prove by clear and convincing evidence that a tenancy by entirety existed.

FACTS:

Amos Almand and his wife shared a bank account. Creditors attempted to come after the bank account by stating that the two were tenants by entirety.

ISSUE:

Are bank accounts belonging to Amos F. Almand, Jr. and his wife and bank accounts belonging to Amos Almand, III and his wife in various financial institutions deposited under various agreements with those institutions subject to execution by creditors of only the husband?

ANSWER:

Yes

CONCLUSION:

Merrill Lynch account is subject to execution; we all agree that the salary account deposited in Compass Bank is not subject to execution; a majority holds that the accounts in the Barnett Bank and SouthTrust Bank in the names of Almand, Jr. and his wife are subject to execution; and a majority holds that the remaining accounts are not subject to execution.

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