Hayes v. Claessens

Headnote

Title — savings banks — when order to change savings bank account to joint account of depositor and another does not operate as transfer of title to fund.

Hayes v. Claessens, 202 App. Div. 765 , affirmed.

Appeal from a judgment entered May 11, 1922, upon an order of the Appellate Division of the Supreme Court in the third judicial department, reversing a judgment in favor of plaintiff entered upon a decision of the court at a Trial Term without a jury. This action was originally commenced against the Manufacturers’ National Bank of Troy, N. Y., as defendant, and by the complaint a recovery was sought from said original defendant of the amount of a deposit of moneys in its bank in the names of the plaintiffs. The respondent was substituted in the place of the original defendant and the moneys involved were deposited as a fund in court, pursuant to an order of interpleader, it appearing that a part thereof had been withdrawn by one of the plaintiffs from an account formerly belonging to one Christina McGovern under authority of the following order:

“ Manufacturers’ National Bank of Troy, N. Y.

“ Pay Trans to Joint % Margaret Hayes and Christina McGovern or Bearer Seventy-eight hundred one 69/100 Dollars, an account of Money standing to my credit or subject to my control in your Bank, as a Special Deposit on interest per Pass-Book No. 14916.

“ Dated Apr. 14, 1917. Her

“ CHRISTINA X MCGOVERN.

“ Witness — Charles J. Cote.” Mark

The Appellate Division held that this instrument did not operate as a transfer of title to the fund. (See Hayes v. Claessens, 234 N. Y. 230 .)