The joint current account is often seen as a simple tool intended to manage the couple’s expenses. However, its opening raises many legal questions. Who really owns the money that passes through it? What are the rights of each co-owner? What happens in the event of separation or death? And savings productslike the Livret A or the PEL, are they affected? The answers are more complex than they seem.
Opening a joint current account does not mean that all your savings become joint. Conversely, having a booklet in your name alone does not guarantee that the sums deposited there belong entirely to you. The consequences are not the same depending on whether the account is opened. between spouses, PACS partners or cohabitees. In practice, four questions arise most often: who really owns the funds? Who can use the account? What happens in the event of divorce? And in the event of death?
Joint current account: what really changes?
For Maître Arielle Ricouvier, notary at the Marseille residence, the first error consists of believing that opening a joint current account automatically modifies the ownership of all of the couple’s assets.
“ You have to be careful about what you mean by a joint account. It all depends on the situation: marriage, cohabitation, inheritance… » In other words, transforming an individual current account into a joint account does not automatically change the status of the savings products attached to it. The Ministry of the Economy also recalls that the Livret A, the LDDS, the LEP, the Livret Jeune, the CEL, the PEL or even the PEA are savings products that must be individual, unlike the joint current account.
However, this does not mean that the holder is necessarily the sole owner of the amounts contained therein. “ It is necessary to clearly distinguish between the title and the quality of the funds. You can very well have an account in your name and shared funds. »
In community reduced to acquisitions
Under the legal regime of community reduced to acquisitions, income received during the marriage constitutes common property. When they fund a Livret A, an LDDS, a PEL or another individual savings product, the support remains personal, but the sums deposited can belong to the community.
This is also one of the most frequent misunderstandings encountered by notaries. “ In community, it is much more common for spouses to be taken aback when it is explained that the funds are joint. » When the amounts paid come from joint income, a reward calculation may also be necessary in order to determine the rights of each person during the liquidation of the matrimonial regime.
In separation of property
Conversely, under a regime separation of propertyeach spouse in principle retains ownership of their personal assets as well as the sums they save. “ In separation of property, there is no subject. The assets are separate. The spouses understand that the gentleman’s Livret A is the gentleman’s Livret A. »
Divorce and death: situations where surprises are most numerous
In the event of divorce, the joint current account is, in principle, shared between the married spouses under the community regime. “ In community, there is a presumption of community. The joint account belongs half to each person. »
The death of one of the co-owners also follows specific rules. The savings accounts are integrated into the estate according to the rules applicable to each product, while the joint current account can, in most cases, continue to operate until the settlement of the estate, subject to the rights of the heirs and the stipulations of the account agreement.
Moreover, “ To transfer securities accountsyou must already have a PEA yourself. Sometimes it takes time to open one, especially in a situation as difficult as the sudden death of a spouse », underlines Maître Ricouvrier. Anticipating the opening of a PEA when planning to invest together can thus avoid delaying the transfer of securities in the event of inheritance.
In the end, the real trap consists of believing that the name written on an account or a booklet is enough to determine its owner. In practice, the matrimonial regime, the origin of funds and banking agreements often play a much more important role. A nuance that can avoid unpleasant surprises at the time of a divorce or an inheritance.
