joint account

A bank or brokerage account opened by two or more people, by which each party has a present right to withdraw all funds in the account and, upon the death of one party, the survivors become the owners of the account, with no right of the deceased party’s heirs or devisees to share in it.

• Typically, the account-holders are designated as “joint tenants with right of survivorship” or “joint-and-survivor account-holders.” In some juris-dictions, they must be so designated to establish a right of survivorship. — Abbr. JA.

— Also termed joint-and-survivorship account. [Cases: Joint Tenancy 1. C.J.S. Estates § 19; Joint Tenancy §§ 2, 4, 7–9.]

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词条贡献者

法律翻译Howard，在一家顶尖的美国律师事务所担任专职法律翻译，专注翻译各类与信托与财产规划有关的法律文件。