Survivorship definition

Survivorship means an interest in real or personal property that expires upon the death of an individual whereby the Interest of the individual's co-owners automatically expands to the same extent without necessity for any act of transfer or distribution.
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Survivorship. The right of survivorship for these purposes is the entitlement in law of the survivor(s) of two or more holders of a joint account to the proceeds of that account. “The Aggressive Investor” prefers an investment portfolio that is expected to yield very high returns, but may have significant fluctuations in value.
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Survivorship is when the remaining joint tenant becomes a sole tenant on the death of a joint tenant. Survivorship is statutory succession. The remaining joint tenant is classified as a “successor” so there are no further succession rights e.g. if the tenant re-marries, their new spouse has no rights to succeed the tenancy. A new tenancy is not issued.
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Examples of Survivorship in a sentence

  • The owner of an account registered in TOD form must be a natural person, two natural persons holding the account as Tenants by the Entireties (“TEN ENT”), or two or more natural persons holding the account as Joint Tenants with Right of Survivorship (“JT TEN”).

  • Joint Account - With Survivorship (And Not As Tenants In Common) - is an account in the name of two or more persons.

  • Your Joint Account will automatically be set up as a Joint Account With Right of Survivorship, unless you designate otherwise at the time of account setup.

  • A P.O.D. designation on an Account designated as joint With Right of Survivorship means that during your lifetime, the funds in an Account are payable to the Account Holders and upon the death of the last Account Holder, the funds are payable to any designated and surviving P.O.D. beneficiary named on the controlling account or other account documentation or records in our system.

  • When you set up a Joint Account, you can designate it as either a Joint Account With Right of Survivorship or a Joint Account without right ofsurvivorship.

  • Joint Account - No Survivorship (As Tenants In Common) - This 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.

  • If the Joint Tenants with Right of Survivorship box has been marked, on the death of any account holder, the deceased party’s ownership of the account passes to the surviving account holders.

  • Multiple-Party Account With Right of Survivorship and Pay-on-Death Designation - At death of last surviving party, ownership passes to the designated pay-on-death beneficiaries and is not part of the last surviving party’s estate.

  • You must first submit a Request for Calculation of Joint Survivorship by a Retiree Considering Changing a Beneficiary (Form 66) in order to receive an estimate of your recalculated allowance based on the new proposed beneficiary.

  • If Customer fails to select the joint account type below, Ironbeam will designate the joint account as Joint Tenancy with Right of Survivorship.


More Definitions of Survivorship

Survivorship means to live for at least thirty (30) days past the designated event. No beneficiary shall be considered to have survived a Settlor’s death, the death of a prior beneficiary, or the event terminating any trust (and be entitled to any trust funds) unless the beneficiary survives for at least thirty (30) days after the event. Any beneficiary required to survive any other person, who fails to survive the other person by thirty (30) days, shall be deemed to have predeceased that person. If it cannot be established whether a beneficiary has survived by thirty (30) days, the beneficiary shall be deemed to have failed to survive for the required time. Except as otherwise expressly provided, any gift or bequest to any person made contingent upon the survivorship of that person shall lapse and shall not be made if the conditions of survivorship stated in this section or elsewhere in this Trust Agreement are not met. The lapsed gifts or bequests shall pass instead as part of the residue of the trust from which the gifts or bequests were directed to be made. The foregoing provisions shall not apply, however, to the Surviving Spouse.
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Related to Survivorship

  • Joint and Survivor Annuity means an immediate annuity for the life of a Participant with a survivor annuity for the life of the Participant's Spouse which is not less than fifty percent (50%), nor more than one hundred percent (100%) of the amount of the annuity payable during the joint lives of the Participant and the Participant's Spouse which can be purchased with the Participant's Vested interest in the Plan reduced by any outstanding loan balances pursuant to Section 7.4.

  • Survivors Committee” means the Additional Tort Claimants Committee Of Sexual Abuse Survivors, appointed by the U.S. Trustee on December 19, 2018.

  • Qualified Joint and Survivor Annuity means an immediate annuity for the life of the Participant with a survivor annuity for the life of the Spouse which is fifty percent (50%) of the amount of the annuity which is payable during the joint lives of the Participant and the Spouse and which is the amount of benefit which can be purchased with the Participant's Vested Account Balance.

  • Spouse means, an individual who,

  • Personal representative means the person or persons who, upon the disability or incompetence of a Participant, shall have acquired on behalf of the Participant, by legal proceeding or otherwise, the power to exercise the rights or receive benefits under this Plan and who shall have become the legal representative of the Participant.

  • Foreign personal representative means a personal representative appointed by another jurisdiction.

  • Joint Annuitant means the individual specified as such in the Data Pages. The Joint Annuitant must be the spouse of the Annuitant on the Contract Date.

  • Mother means the mother or expectant mother of the child.

  • Community or broad-based enterprise means an enterprise that has an empowerment shareholder who represents a broad base of members such as a local community or where the benefits support a target group, for example black women, people living with disabilities, the youth and workers. Shares are held via direct equity, non-profit organisations and trusts.

  • Legal representative means a person who in law represents the estate of a deceased person, and includes any person who intermeddles with the estate of the deceased, and, where a party acts in a representative character, the person on whom the estate devolves on the death of the party so acting;

  • Annuitant means a person who receives a retirement allowance or a disability allowance;

  • primary beneficiary means the individual for whose primary benefit the trust is then held. For purposes of Section 8.3, a Qualified Entity is a member of each Family Group to which such one or more Qualified Trusts that are its equity holders belong.

  • Person living as a spouse means a person who is living or has lived with the offender in a common law marital relationship, who otherwise is cohabiting with the offender, or who otherwise has cohabited with the offender within five years prior to the date of the alleged commission of the act in question.

  • Mother plant means a marijuana plant that is grown or maintained for the purpose of generating clones, and that will not be used to produce plant material for sale to a processor or dispensary.

  • Minor child means a biological or adopted child of the

  • person with disability means a person as referred to in clause (t) of section 2 of the Persons with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995 or clause (j) of section 2 of the National Trust for Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999;

  • Qualified Preretirement Survivor Annuity means an annuity which is payable for the life of the Participant's surviving spouse.

  • Lineal Descendant means a child, grandchild, great grandchild, etc., and shall include only lineal descendants by and through birth, or by legal adoption of an individual who has not attained age 18. The term shall also include individuals so born or adopted after the date of this Agreement.

  • 'Survivor's Option means, where applicable, the right of a holder of a Note to require the Company to repay such Note prior to its Stated Maturity upon the death of the owner of such Note, subject to the provisions hereof relating to such option."

  • war widower s pension” means any pension or allowance payable to a man as a widower or to a surviving civil partner under an instrument specified in section 639(2) of the Income Tax (Earnings and Pensions) Act 2003 in respect of the death or disablement of any person;

  • Race or ethnicity means of a particular descent, including Caucasian, African, Hispanic, Asian, or Native American descent.

  • Child or Children means a child or children unmarried

  • Children means all dependants named on a policy (not including spouse).

  • Life expectancy means life expectancy as computed by use of the Single Life Table in Section 1.401(a)(9)-9 of the Treasury regulations.

  • legal personal representative means the personal or other legal representative of the shareholder;

  • Father means the male, biological parent of a child.