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Removing the Name of Joint Owner from an Account
Answer by John Burnett, BOL Guru
Guru Bios
Question: Can an account holder remove the name of the other joint owner on a deposit account (that is held Joint w/right of Survivorship)? If so, what is the proper way to remove a name from a joint account?
Answer: The preferred method is for the individual to close the joint account and open a new, individual account. Any other method, assuming that the other joint owner is still alive, can lead to awkward problems and challenges later.
First published on BankersOnline.com 6/05/06
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