Also known as: points of diversion · point-of-diversion · POD · diversion point
Written by attorneys · grounded in primary & secondary sources — see below
2 senses
A designation on a bank or brokerage account that directs payment of the sums on deposit to one or more named beneficiaries upon the death of the last surviving party. The designation takes effect by contract and passes the funds outside probate.
A designation on a bank or brokerage account that directs payment of the sums on deposit to one or more named beneficiaries upon the death of the last surviving party. The designation takes effect by contract and passes the funds outside probate.
Select any source to read its text and confirm it supports the definition.
The specific physical location at which water is withdrawn from a natural source such as a river, lake, or stream for beneficial use under a water right.
Select any source to read its text and confirm it supports the definition.
The specific physical location at which water is withdrawn from a natural source such as a river, lake, or stream for beneficial use under a water right.
Each sense below has its own examples, sources, and questions.
After Nathan added a POD designation naming his then-wife Connie on his credit-union accounts, the couple divorced. The divorce decree divided marital property but left the designations untouched. When Nathan died ten years later, the funds passed directly to Connie rather than to the residuary beneficiary under his will.
No. The designation operates by contract between the account owner and the financial institution. Upon the death of the last surviving party the funds are paid directly to the named beneficiary without becoming part of the probate estate.
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Under the Uniform Probate Code a divorce revokes a POD designation in favor of a former spouse unless the decree or a separate contract expressly preserves the designation. The funds then pass as part of the decedent's estate.
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Sums on deposit in a single-party account or a multiple-party account without right of survivorship pass as part of the decedent's probate estate under section 6-212(c).
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Hardy Salt held a certificate authorizing intermittent diversion of Great Salt Lake water through a designated channel onto its evaporation ponds. Morton possessed only diligence rights without any state-specified point of diversion. When the two companies disputed extraction quantities, the court relied on the certificate's fixed location to determine Hardy's superior rights.
The location is fixed by the terms of the appropriation certificate or permit and must be respected by the appropriator. Changing the point without state approval can impair senior rights or forfeit the right.
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It determines the quantity and timing of water that may lawfully be withdrawn and protects downstream senior appropriators from impairment. Without a fixed point the right cannot be quantified or enforced.
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