A transfer of cash to a bank account held in joint tenancy with the right of survivorship is not a completed gift.

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A transfer of cash to a bank account held in joint tenancy with the right of survivorship is not a completed gift because the joint tenant has a right to the funds during their lifetime and the transferor can change their mind and take back the funds at any time. The gift is not complete until the joint tenant's death, at which point the surviving joint tenant would take sole ownership of the funds.

A Transfer of Cash to a Bank Account Held in Joint