When does account transfer become law?

[JimPeters]

If I notarize a document which transfers ownership of my private bank account to my trust, when does the transfer become a legal fact? Is it a legal fact before the document is processed at the bank?

Let's say I die after I notarize the transfer, but before I get the document processed at the bank. Is the account legally transferred anyway?

A slightly different question to understand the issue better: When I (alive) take the notarized document to the bank, is it only a matter of the bank conforming to the legal fact of the transfer by changing their records? Or does the bank have the authority to deny the transfer, even if the transfer is perfectly legal, the document is in order, and the bank commonly handles trust accounts?

 

[curb1]

The change takes place when the bank changes the name/title on the account. It is not in the trust until it is in the trust. It doesn't get into the trust until the bank puts it into the trust by changing the control of the account. That is my opinion.

The authority to make the change is not the same as making the change.

 

[TrustUser]

i think that is a pretty good answer. however, to add to it, can the bank add the account if it so chooses ?

i know that one can record a real estate deed after the grantor dies. of course, if the county does not like it because it has a mistake on it, then the ownership does not change title.

so in your case, you are at least taking a chance that the bank wont accept it. even if it is actually legal, it may be the bank's policy not to do so. and they have the right to set their own policy.