BENNET v. FIRST & MERCHANTS NAT. BANK

Record No. 840113.

355 S.E.2d 888 (1987)

Joseph C. BENNET, Jr., Executor, etc. v. FIRST & MERCHANTS NATIONAL BANK, et al.

Supreme Court of Virginia.

April 24, 1987.


Attorney(s) appearing for the Case

Randolph W. Church, Jr. (Hunton & Williams, Fairfax, on briefs), for appellant.

Thomas Monahan (O. Leland Mahan; Hall, Monahan, Engle, Mahan & Mitchell, Leesburg, on brief), for appellee, Mindy Louise Thompson.

No briefs or arguments for appellees, First & Merchants Nat. Bank and Marilyn Diane Vetter.

Present: CARRICO, C.J., and COCHRAN, POFF, COMPTON, STEPHENSON, RUSSELL and THOMAS, JJ.


RUSSELL, Justice.

This appeal requires us to determine whether an interest in a United States Treasury Bill, purchased with funds drawn from a joint savings account, becomes a part of the estate of the joint depositor who contributed the funds to the account but who dies before the Treasury Bill matures, or whether it passes by survivorship to the surviving joint depositor.

The essential facts are undisputed. Taylor S. Butler, the decedent, had two children...

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