Common use of Death or Incompetence of Account Owner Clause in Contracts

Death or Incompetence of Account Owner. Tell us immediately if any Account owner dies or is declared incompetent by a court. We may act as if all owners are alive and competent until we receive notice otherwise. After we receive notice of death or incompetence, we may freeze your balance, refuse to accept transactions, and reverse or return deposits. We are also not required to release your funds until we receive any documents we reasonably request to verify your death or incompetence, as well as who is entitled to the funds. If we have any tax liability because of paying your balance to your estate, the estate will be responsible for repaying us the amount of that tax. If an Account owner authorizes any transaction, but it’s not presented for payment until after that owner dies, we are authorized to pay the transaction. If you owe us a debt at the time of your death, we are authorized to exercise our right of setoff (our right to apply funds in one Account to the debt associated with another Account) or security interest rights against the funds credited to your balance after your death. We have these rights even if a surviving joint owner, a “payable on death” payee, or a beneficiary of an “in trust for” or “trustee for” Account has rights to the Account.

Death or Incompetence of Account Owner. Tell You must notify us immediately if any Account account owner dies or is declared incompetent by a court. We Until we receive notice otherwise, we may act as if all owners are alive and competent until we receive notice otherwisecompetent. After we receive notice of death or incompetence, we may freeze your balancethe account, refuse to accept transactions, and reverse or return depositsdeposits to the account. We are also not required to release your funds in the account until we receive any documents we reasonably request to verify your the death or incompetence, as well as who is entitled to the funds. If we have any tax liability because of paying your balance funds in an account to you or your estate, the you or your estate will be responsible for repaying us the amount of that tax. If an Account account owner authorizes any transactionan item, but it’s it is not presented for payment until after that owner dies, we are authorized to pay the transactionitem after the owner’s death. If you owe an account owner xxxx us a debt at the time of your death, we are authorized to exercise our right of setoff set-off (our right to apply funds in one Account account to the debt associated with another Accountanother) or security interest rights against the funds credited to your balance account after your the owner’s death. We have these rights even if a surviving joint owner, a “payable on death” (“POD”) payee, or a beneficiary Beneficiary of an “in trust for” (“ITF”) or “trustee for” Account account has rights to the Accountaccount.

Death or Incompetence of Account Owner. Tell You must notify us immediately if any Account account owner dies or is declared incompetent by a court. We Until we receive notice otherwise, we may act as if all owners allowners are alive and competent until we receive notice otherwisecompetent. After we receive notice of death or incompetence, we may freeze your balancethe account, refuse to accept transactions, and reverse andreverse or return depositsdeposits to the account. We are also not alsonot required to release your funds in the account until we receive any documents we reasonably request to verify your the death or incompetence, as well as who is entitled to the funds. If we have any tax liability because of paying your balance funds in an account to you or your estate, the you or your estate will be responsible for repaying us the amount of that tax. If an Account account owner authorizes any transactionanitem, but it’s it is not presented for payment until after that owner dies, we are authorized to pay the transactionitem after the owner’s death. If you owe an account owner xxxx us a debt at the time of your death, we are authorized to exercise our right of setoff set-off (our right to apply funds in one Account account to the debt associated with another Accountanother) or security interest rights against the funds credited to your balance account after your the owner’s death. We have these rights even if a ifa surviving joint owner, a “payable on death” (“POD”) payee, or a beneficiary Beneficiary of an “in trust for” (“ITF”) or “trustee for” Account account has rights to the Accountaccount.

Death or Incompetence of Account Owner. Tell ‌ You must notify us immediately if any Account account owner dies or is declared incompetent by a court. We Until we receive notice otherwise, we may act as if all owners are alive and competent until we receive notice otherwisecompetent. After we receive notice of death or incompetence, we may freeze your balancethe account, refuse to accept transactions, and reverse or return depositsdeposits to the account. We are also not required to release your funds in the account until we receive any documents we reasonably request to verify your the death or incompetence, as well as who is entitled to the funds. If we have any tax liability because of paying your balance funds in an account to you or your estate, the you or your estate will be responsible for repaying us the amount of that tax. If an Account account owner authorizes any transactionan item, but it’s it is not presented for payment until after that owner dies, we are authorized to pay the transactionitem after the owner’s death. If you owe an account owner xxxx us a debt at the time of your death, we are authorized to exercise our right of setoff set-off (our right to apply funds in one Account account to the debt associated with another Accountanother) or security interest rights against the funds credited to your balance account after your the owner’s death. We have these rights even if a surviving joint owner, a “payable on death” (“POD”) payee, or a beneficiary Beneficiary of an “in trust for” (“ITF”) or “trustee for” Account account has rights to the Accountaccount.