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PETERSEN v. CARSTENSEN

No. 2-57270.

249 N.W.2d 622 (1977)

Peter H. PETERSEN, Executor of the Estate of John P. Carstensen, Sr., Deceased, Appellee, v. John Peter CARSTENSEN, III, a minor Individual, et al., Appellants, Louise Schult et al., Appellees.

Supreme Court of Iowa.

January 19, 1977.

Attorney(s) appearing for the Case

George W. Pillers, Jr., of Pillers, Pillers & Pillers, Clinton, for appellants John Peter Carstensen, III, and Phyllis Carstensen.

Paul E. Pfeffer, of Johnson, Oakley & Pfeffer, Clinton, for appellant Meta Johnson.

Jerry D. Van Scoy, of Shaff, Farwell & Senneff, Clinton, for appellee Peter H. Petersen.

Alan H. Mayer, of Mayer, Mayer & Mayer, Clinton, for appellee Loretta Pieper.

Heard by MOORE, C. J., and MASON, UHLENHOPP, HARRIS and McCORMICK, JJ.

McCORMICK, Justice.

The principal question here is whether a certificate of deposit in the name of alternate payees becomes the property of the surviving payee, upon the depositor's death, in the absence of extrinsic evidence showing the depositor had a contrary intention. We affirm a holding by the trial court that it does.

John P. Carstensen, Sr., died testate at the age of 85 on February 1, 1973. A certificate of deposit for $32,500 was found in his safety...

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