Morgan Stanley & Co. v. Andrews

In this appeal, we address the extent to which a creditor of one joint account holder may garnish funds in a joint account when another joint account holder is a non-debtor. We shall hold that there is a rebuttable presumption that joint account holders own the funds in an account, but that the presumption of joint ownership can be rebutted by clear and convincing evidence to the contrary.

In the present case, Morgan Stanley & Co., Inc. (“Morgan Stanley”), appellant, obtained a judgment against John Andrews, appellee (“Son”). Morgan Stanley moved to garnish the funds held in a joint bank…