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V1447-19 17 June 2019 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
IP · titularidad de disposición

Joint ownership of a joint account does not determine ownership of the deposited funds

The inquirer asks whether depositing his wife's separate property into a joint account constitutes a gift. The DGT rules that the authority to manage funds held at a bank does not imply ownership of those funds, which instead depends on the source of the money.

The question raised

Whether it is considered that the taxpayer is receiving a donation.

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 ownership of the funds nor the existence of a co-ownership. Ownership must be determined according to the internal relationships between the holders and the original source of the funds, and the person wishing to assert such a right must provide conclusive proof. Upon the death of a joint holder, the power of disposal over the portion belonging to the deceased ceases and the funds pass to their heirs.

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