Code of Virginia (Last Updated:July 28, 2020) |
TITLE 6.2. Financial Institutions and Services |
SUBTITLE II. Depository Institutions and Trust Organizations |
CHAPTER 6. Deposits and Accounts |
ARTICLE 2. Multiple-Party Accounts |
SECTION 6.2-607. Effect of divorce |
Upon the entry of a decree of divorce, either a mensa et thoro or a vinculo matrimonii, all rights of either consort in any multiple-party account then existing between them, including the right of survivorship, shall be extinguished; and any joint account then existing between the consorts shall thereupon be converted into a tenancy in common, in the proportions provided in subsection A of § 6.2-606 , unless otherwise ordered by the court. 1979, c. 407, § 6.1-125.4; 2010, c. 6.2-606 . |