Skip to content
Back to index
V0392-24 12 March 2024 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
IS · titularidad de disposición

Joint bank account ownership does not necessarily imply ownership of the funds

A query was raised regarding whether being a joint holder of a bank account implies ownership of the funds for inheritance purposes. The Directorate-General for Tax Affairs (DGT) ruled that joint ownership only grants powers of disposal towards the bank, but does not determine the ownership of the funds, which depends on the source of the money.

The question raised

Taxation of the inheritance corresponding to a bank account with multiple holders. Specifically, whether the mere fact of being a joint holder of a bank account implies ownership of the funds.

The DGT's ruling

Joint ownership in non-indistinct or joint accounts only grants powers of disposal towards the bank, but does not determine the existence of a co-ownership over the balance. Ownership must be proven according to the original source of the funds. Upon the death of a joint holder, the portion of the balance belonging to the deceased must be included in their estate and pass to their heirs.

Book your free first meeting