Some years ago I transferred savings I had from before my marriage into the joint account my husband and I hold. Recently we have had problems in our marriage. I have all the documentation relating to the transfer so that I can prove exactly how much was transferred, where from and when. Am I entitled to get what I transferred back ?
By: דיאנה שאלתיאל•Published on: 12 May, 2022Once money is transferred from an individual account owned by one spouse into a joint account held by the husband and wife it becomes mutual property -even its origin was property owned by only one party prior to the marriage. Both parties have equal rights to what is in the joint account.
The party who transferred the money may actually withdraw a sum equivalent to what he/she deposited from a personal account into a joint account, but this could be risky. A court could regard the money in the joint account as common property, and what was originally deposited in it as a present from the party depositing it from the moment it entered the account.
It is worth nothing – as long as a party keeps money owned by him/her prior to the marriage in a separate account in his/her sole name it remains his/her personal property, and is not joint property acquired by mutual effort during the time the parties lived together as a married couple.