Common use of Joint account with rights of survivorship Clause in Contracts

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.

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.