Common use of Joint Account - With Survivorship Clause in Contracts

Joint Account - With Survivorship. (And Not As Tenants In Common) - is an account in the name of two or more persons. Each of you intends that when you die the balance in the account (subject to any previous pledge to which we have agreed) will belong to the survivor(s). If two or more of you survive, you will own the balance in the account as joint tenants with survivorship and not as tenants in common. Joint Account - No Survivorship (As Tenants In Common) - is owned by two or more persons, but none of you intend (merely by opening this account) to create any right of survivorship in any other person. Each owner’s percentage ownership in the account is determined according to state law. Ownership can vary depending on respective contributions and their sources. Because we will be unable to determine respective ownership percentages conclusively upon the death of an owner, you agree that we may pay out all or part of account funds on the instructions of either the decedent’s personal representative or any surviving owner notwithstanding the absence of a right of survivorship. Our authority to make such payments shall not affect the respective rights of the decedent’s personal representative and surviving owners to their proper ownership percentages of account proceeds, which they may seek to have determined judicially. Ownership as tenants in common will not affect the number of signatures necessary for withdrawal.

Joint Account - With Survivorship. (And Not As Tenants In Common) - is Common)-is an account in the name of two or more persons. Each of you intends that when you die the balance in the account (subject to any previous pledge to which we have agreed) will belong to the survivor(s). If two or more of you survive, you will own the balance in the account as joint tenants with survivorship and not as tenants in common. Joint Account - Account-No Survivorship (As Tenants In Common) - is owned by two or more persons, but none of you intend (merely by opening this account) to create any right of survivorship in any other person. Each owner’s percentage ownership in the account is determined according to state law. Ownership can vary depending on respective contributions and their sources. Because we will be unable to determine respective ownership percentages conclusively upon the death of an owner, you agree that we may pay out all or part of account funds on the instructions of either the decedent’s personal representative or any surviving owner notwithstanding the absence of a right of survivorship. Our authority to make such payments shall not affect the respective rights of the decedent’s personal representative and surviving owners to their proper ownership percentages of account proceeds, which they may seek to to, have determined judicially. Ownership as tenants in common will not affect the number of signatures necessary for withdrawal.