Opinion ID: 2364278
Heading Depth: 2
Heading Rank: 3

Heading: Placement of the Gift into a Joint Account

Text: [¶ 12] Stephen argues, however, that Deborah's placement of the stock in the parties' joint account and the parties' use of the account to pay marital debts evidenced Deborah's intent to transfer the stock to the marital estate. We have not previously decided whether shares of stock received as a gift by one spouse and then transferred into the joint ownership of both spouses becomes, as a matter of law, marital property. If the gift to Deborah had been real estate instead of stock, and she had deeded the real estate to herself and Stephen jointly, the rule established in Long, 1997 ME 171, 697 A.2d 1317, would dictate that the property is marital. Id. ¶ 1, 697 A.2d at 1319. We have not extended the holding in Long to non-real estate property, but neither have we rejected it. This case requires us to determine whether we will apply the source of funds rule, which we have applied when assets are held in an account in one party's name, or whether we will extend the holding in Long to assets in a joint account.