There are many people who share the ownership of a bank account with a relative, a couple or even a partner. Having a joint account facilitates money management. From paying receipts to organizing common expenses. However, there are few who know what happens to that money (and that shared bank account) if one of the holders generates debts and, where appropriate, possible diligence of embargoes.
The doubt is frequent and can generate some concern, especially when we talk about a subject as delicate as the money found in it and that, of course, is also ours.
You may be interested
The price of light tomorrow, Tuesday, September 2, when it will be cheaper and face in the wholesale market
The Community of Madrid will pay aid of up to 15,000 euros to self -employed and SMEs to improve reconciliation with teleworking and time flexibility
Yeah; It is possible that a pending debt will be seized or charged in a shared account
A joint or shared account is nothing more than a banking product that allows two or more people to be holders of the same account. This means that all co -students have the right to operate freely on it and can enter money or dispose of the balance without requiring the prior consent of other holders.
Now; In the same way, it is important to know that there is a possibility that a joint or indistinct bank account is seized or, where appropriate, that the bank charges a pending debt of any of the holders.
We talk that current accounts are among the assets that can be seized in accordance with the Civil Procedure Law, and can also be seized according to the Social Security and Finance regulations (for cases of administrative embargoes).
If one of the holders has a debt and the court orders proceedings, the proportional part that corresponds to it may be retained
Here, according to this law, in an account with several holders it is presumed that money belongs to all in equal parts, except proof to the contrary. This means that if one of the holders has a debt and the court orders an embargo or other proceedings, the proportional part that corresponds to it may be retained.
In Spain, an embargo can only be ordered by a competent judge, or by the public administration, and in the latter case, specifically, by the State Agency for Tax Administration or by Social Security. This is so if it is the embargo on a bank account, as well as any other seizure.
The origin of the debt is what is going to determine who has the power to decide the embargo of the account, according to the specialized portal of ‘Claims’: the judicial authority or the administrative authority. Of course, a possible conflict may arise if a creditor requests the seizure of the balance of the shared account to pay off a debt of only one of the co -students.
The money belongs to equal parts among the holders of a shared account
In this case, Spanish law orders money to belong to equal parts among the holders. Therefore, only half of the total balance can be seized, unless it can be demonstrated that the totality belongs to the debtor.
In the same way, it is worth mentioning that if this seizure was produced on the account shared by a debt of what is only one of the co -students, the person who is not debtor can resort to the Tax Administration or the courts.
To do this, as they explain from ‘Claimador’, “an opposition or third party domain writing” must be submitted together with evidence that proves that the money that has been seized are of its property and not of the debtor.