joint bank account (Gemeinschaftskonto)

The balance of a German joint bank account (Gemeinschaftskonto) generally does not pass to the survivor. However, if the co-owner had agreed that each co-owner may dispose of the bank account (ODER Konto), the surviving co-owner will be able to dispose of the bank account even after the passing of the death of the other co-owner. However, unless there is a valid payable on death designation or he/she has been named as heir (Erbe), the heir(s) are beneficially entitled to the share of the first dying co-owner and may claim back from the surviving co-owner the amount taken from the account without beeing beneficially entitled.