Matter of Schwartz

In Matter of Schwartz (NYLJ, May 22, 1991, at 25), the Court held that survivorship language in a disclosure statement and acknowledgment of receipt of the disclosure statement will not give rise to the statutory presumption when no survivorship language appears on the signature cards. The omission of words of survivorship on the signature card precludes application of the presumption (Matter of Schwartz, NYLJ, May 22, 1991, at 25). The survivor may, however, even without the benefit of the presumption, still present evidence to establish a common law joint tenancy with right of survivorship. In that case, however, the survivor must affirmatively introduce evidence of intent (Matter of Schwartz, NYLJ, May 22, 1991, at 25.)