Joint account with rights of survivorship Sample Clauses

Joint account with rights of survivorship. If a joint account has rights of survivorship, and one joint owner dies, the Bank may treat the account as the sole property of the survivor after the death of any owner of the account. The Bank may also require the survivor to provide legal documents before releasing the balance on deposit. The estate of the deceased owner will have no rights to the account. If there is more than one surviving joint owner, the account will continue as a joint account with rights of survivorship among the remaining owners.
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Joint account with rights of survivorship. If the account has more than one owner, this agreement establishes a Joint Account With Rights of Survivorship. If you and the other account owners wish to establish a Tenancy in Common instead, each of you must execute a Joint Account Agreement As Tenants in Common in addition to this Client Agreement. Note: Texas residents must execute a Texas Joint Account Supplement agreement (form 3882).
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Joint account with rights of survivorship. If your Account is a joint Account with rights of survivorship, the following terms apply: 1) Unless otherwise provided by the Agreement or applicable state law, upon the death of a Joint Owner, that Joint Owner's ownership interest in the Account will immediately pass to the other Joint Owner(s) and the estate of the deceased Joint Owner will have no rights to the Account. If the Account has more than one surviving Joint Owner following the death of a Joint Owner, the Account will continue as a joint Account with rights of survivorship among the remaining Joint Owners. 2) The legal ownership interests of surviving Joint Owners may vary by state law. However, this will not affect the authorization of each surviving Joint Owner to withdraw funds in the Account at any time, and in no event we will have responsibility for determining respective ownership interests of the surviving Joint Owner(s). 3) Applicable state law may impose requirements that must be met to create a joint Account with rights of survivorship. You are solely responsible for meeting these requirements.
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Related to Joint account with rights of survivorship

  • Rights of Survivorship If your account is a joint account, the account is owned as a joint account with rights of survivorship. Upon the death of one of the joint account owners, that person’s interest will become the property of the surviving joint account owners.

  • Third Party Beneficiary Rights The parties do not intend to create in any other individual or entity the status of third party beneficiary and this Contract shall not be construed so as to create such status. The rights, duties and obligations contained in this Contract shall operate only between the parties to this Contract, and shall inure solely to the benefit of the parties to this Contract. The provisions of this Contract are intended only to assist the parties in determining and performing their obligations under this Contract. The parties to this Contract intend and expressly agree that only parties signatory to this Contract shall have any legal or equitable right to seek to enforce this Contract, to seek any remedy arising out of a party's performance or failure to perform any term or condition of this contract, or to bring an action for the breach of this Contract.

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