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- Alaska Statutes.
- Title 13. Decedents' Estates, Guardianships, Transfers, and Trusts.
- Chapter 33. Nonprobate Transfers
- Section 212. Rights at Death.
previous: Section 211
. Ownership During Lifetime.
next: Section 213
. Alteration of Rights.
AS 13.33.212. Rights at Death.
- (a) Except as otherwise provided in AS 13.33.201
- 13.33.227, on death of a party, sums on deposit in
a multiple-party account belong to the surviving party or parties. If two or more parties survive and one is the
surviving spouse of the decedent, the amount to which the decedent immediately before death was beneficially entitled
under AS 13.33.211
belongs to the surviving spouse. If two or more parties survive and none is the surviving spouse of the decedent, the
amount to which the decedent immediately before death was beneficially entitled under AS 13.33.211 belongs to the surviving parties in equal
shares and augments the proportion to which each survivor immediately before the decedent's death was beneficially
entitled under AS 13.33.211
, and the right of survivorship continues between the surviving parties.
- (b) In an account with a POD designation
- (1) on death of one of two or more parties, the rights in sums on deposit are governed by (a) of this section;
- (2) on death of the sole party or the last survivor of two or more parties, sums on deposit belong to the surviving
beneficiary or beneficiaries; if two or more beneficiaries survive, sums on deposit belong to them in equal and
undivided shares, and there is no right of survivorship in the event of death of a beneficiary after coming into
ownership; if no beneficiary survives, sums on deposit belong to the estate of the last surviving party.
- (c) Sums on deposit in a single-party account without a POD designation, or in a multiple-party account that, by the terms
of the account, is without right of survivorship, are not affected by death of a party, but the amount to which the
decedent immediately before death was beneficially entitled under AS 13.33.211
is transferred as part of the decedent's estate. A POD designation in a multiple-party account without right of
survivorship is ineffective. For purposes of this section, designation of an account as a tenancy in common establishes
that the account is without right of survivorship.
- (d) The ownership right of a surviving party or beneficiary, or of the decedent's estate, in sums on deposit is subject to
requests for payment made by a party before the party's death, whether paid by the financial institution before or
after death, or unpaid. The surviving party or beneficiary, or the decedent's estate, is liable to the payee of an
unpaid request for payment. The liability is limited to a proportionate share of the amount transferred under this
section to the extent necessary to discharge the request for payment.
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