Can a Joint Bank Account Be Garnished in Florida?

In Florida, a joint bank account can be garnished, but there are some protections in place. The account holder who is not being sued can protect their funds by having their name removed from the account.

Florida law allows creditors to garnish a joint bank account, but only the amount that belongs to the debtor. This means that if the account is in both names, the creditor can only take the amount that is in the debtor's name.

To avoid having your joint bank account garnished, it's a good idea to have a clear understanding of who owns what in the account. You can do this by reviewing the account agreement or talking to your bank.

Creditors can garnish jointly owned accounts in Florida, even if you don't owe the debt. This means that if you have a joint savings or checking account with someone else, a creditor can take money from it to pay for the other person's debt.

The law usually presumes that you and the other account holder have equal rights to the funds, which can be unfair if you didn't contribute equally to the account.

Laws vary on the extent to which creditors can garnish joint accounts in Florida. In some cases, creditors may be able to take more than half of the funds, while in other cases, they may only be able to take half.

A convenience account, where one person is added to the account for convenience, may not be considered a joint account in the eyes of the law. To prove a convenience account, you'll need to pass the "reality of ownership" test, which considers factors such as who was the original owner, who made deposits, and who made withdrawals.

Here are some factors that may help establish a convenience account:

It's worth noting that joint tenancy with right of survivorship, a type of property ownership, can also be garnished by a judgment creditor to the extent of their interest in the account.

In Florida, joint bank accounts can be garnished, but the laws surrounding this topic are complex. Creditors might be able to garnish a joint savings or checking account even if you don't owe the debt.

Joint tenancy with right of survivorship is a type of property ownership where the co-tenants must have the same percentage ownership. This means that if one co-tenant passes away, their interest goes to the surviving joint tenant(s).

In common law property states, the debt of each spouse remains their separate responsibility unless the debt benefited both spouses or the spouses took out the debt jointly. This means that spouses who separate their finances are usually not responsible for the debt of the other.

A creditor can garnish a joint account in some states, but only up to half of the funds in the account. In other states, if you were not individually liable on the debt, the creditor cannot garnish the joint account unless the debt was incurred for the benefit of you and the family, or to acquire joint property.

There are several types of joint bank accounts, including joint tenancy with right of survivorship and convenience accounts. A convenience account is a type of joint account where one person is added to the account for convenience, but the money belongs to the other person.

To prove a convenience account, you must show that the reality of ownership was that the account was held solely by you, not the debtor. Some factors that may help establish a convenience account include:

In some states, a creditor can garnish a joint account even if you were never individually liable on that debt. However, the creditor can only garnish up to half of the funds in the account.

In Florida, joint bank accounts can be garnished, but there are ways to protect your funds.

If you own an account jointly with another individual, the law usually presumes that you each have equal rights to funds held in that account.

You may be able to protect certain money in the account if it came from exempt sources, such as Social Security, worker's compensation, disability, unemployment, or child support.

Federal rules prohibit banks from freezing certain amounts in your account if the contributions came from certain federal benefits, such as Social Security.

To protect your funds, you must act immediately when you are served with the notice of garnishment, which includes a notice of hearing.

You should request the hearing in writing, stating your reasons, within the deadline specified on the notice.

If you can prove that the source of contributions into the account came from exempt sources, then those funds are protected.

You may have some relief if you received federal benefits and they were deposited in the account, as the bank must allow you access to money equal to at least two months' worth of federal benefit payments that were last deposited into your account prior to the garnishment.

Joint tenancy with right of survivorship is another form of property ownership where the co-tenants must all have the same percentage ownership, but property that is held as a joint tenancy with right of survivorship can still be garnished by a judgment creditor of one of the joint owners.

Joint bank accounts can be a convenient way to manage finances, but they also come with some risks. Unfortunately, the law often presumes that joint account holders have equal rights to the funds, which can lead to unexpected consequences.

In Florida, creditors can try to garnish a joint bank account to pay for the co-owner's debt, even if you didn't contribute to the debt. This is because the law typically doesn't investigate whether you contributed more money to the account than the co-owner.

However, the extent to which creditors can garnish a joint account varies by state. In some states, creditors can't take more than half of the funds in a joint account. But in other states, including Florida, creditors may be able to garnish the entire joint account.

To protect yourself, you can try to establish that the account was a convenience account, rather than a joint account. This means showing that the account was held solely by you, and that the co-owner was added to the account for convenience, such as to assist with bill paying or banking.

Some factors that may help establish a convenience account include:

By understanding how joint bank accounts work and taking steps to protect yourself, you can help ensure that your finances are secure and that you're not caught off guard by a creditor's garnishment attempt.