Section 15104.4 - Transfer of Joint Tenancy Property to Third PersonIt is assumed in this regulation that the transfers were not made for an adequate and full consideration in money or money's worth.
(a) Joint Bank Account. A transfer of a joint bank or similar account by the joint tenants to a third person constitutes a gift from each tenant to the extent of, or in proportion to, his contribution to the account. If a joint bank or similar account is created with community property each spouse contributes one-half of such property.
(b) Joint U. S. Savings Bond. A transfer of a joint United States savings bond by the joint tenants to a third person constitutes a gift from each tenant to the extent of, or in proportion to, his contribution for the bond. If a joint United States savings bond is purchased with community property each spouse contributes one-half of such property.
(c) Joint Tenancy Other Than Bank Account, U. S. Savings Bond, or Real Property Owned by Husband and Wife. A transfer of joint tenancy property, other than a joint bank or similar account, a joint United States savings bond, or real property owned by a husband and wife in a joint tenancy created on or after September 11, 1957, to a third person constitutes a gift of one-half of such property by each joint tenant. Note: For a transfer to a third person of real property owned by a husband and wife in a joint tenancy created on or after September 11, 1957, see Section 15104.50.
Cal. Code Regs. Tit. 18, § 15104.4
Note: Reference: Section 15104, Revenue and Taxation Code.