Joint Tenants With Right of Survivorship. If your Account is a joint account with right of survivorship, upon the death of one of the joint Account Holders, that person's ownership interest in the Account will immediately pass to the other joint Account Holder(s).
Joint Tenants With Right of Survivorship. If the Account Holders have elected to hold their Account as joint tenants with right of survivorship, each Joint Holder declares that his/her interest in the joint Account is held as a joint tenant with full rights of survivorship . In the event of the death of either Joint Holder, the entire interest in the joint Account shall become the property of the surviving Account Holder(s) and the estate of the deceased will have no further interest . The death of one Joint Holder shall not terminate the joint Account nor affect the rights of the survivor(s) to it; rather, all proceeds of and rights to the joint Account pass automatically, without any additional instruction to BPICI or the Custodian, to the surviving Joint Holder, or to the surviving Joint Holders jointly . Tenants in Common: If the Account Holders have elected to hold their Account as tenants in common, each Joint Holder declares his/ her interest in the Account is held as a tenant in common without rights of survivorship . In the event of death of either applicant, the deceased’s portion of assets in the joint account passes to his or her beneficiaries in accordance with his or her will or under intestacy and does not pass to the surviving Joint Holder(s) . The interest of the Joint Holders in the account shall be deemed to be equal unless otherwise specified by all Account Holders or their authorized representatives in writing . In addition to the other provisions of this Agreement the Joint Account Holders agree that the assets of the Joint Account, held either as joint tenants with right of survivorship or tenants in common, and the instructions relating to the Joint Account will be handled as follows:
Joint Tenants With Right of Survivorship. The signatures of both joint tenants are required. COMMUNITY PROPERTY: The signatures of both husband and wife are required, unless a separate document signed by both parties and designating either party as agent of the other party for purposes of signing accompanies the Subscription Agreement.
Joint Tenants With Right of Survivorship. If your Account is a joint account with right of survivorship, upon the death of one of the joint Account Holders, that person’s ownership interest in the Account will immediately pass to the other joint Account Holder(s). Each joint Account Holder, without the consent of any other Account Holder, may, and hereby is authorized by every other joint Account Holder, to make any transaction permitted under the Agreement, including without limitation: to withdraw all or any part of the account funds; to pledge the account funds as collateral to us for any obligation, whether that of one or more Account Holders or of a third party; to endorse and deposit checks and other items payable to any joint Account Holder; to give stop payment orders on any check or item, whether drawn by that Account Holder or not; to consent to or revoke consent to payment of service charges on overdrafts that result from ATM transactions or one-time debit card transactions under the Standard Overdraft Policy; and, to close the account, with the disbursement of account proceeds as instructed by the joint Account Holder. Each joint Account Holder is authorized to act for the other Account Holder(s) and we may accept orders and instructions regarding the account from any joint Account Holder. If we believe there to be a dispute between joint Account Holders or we receive inconsistent instructions from the Account Holders, we may suspend or close the account, require a court order to act, and/or require that all joint Account Holders agree in writing to any transaction concerning the account. Your obligations under the Agreement are joint and several. This means that each joint Account Holder is fully and personally obligated under the terms of the Agreement, including liability for overdrafts and debit balances as set forth above, irrespective of which joint Account Holder benefited from the withdrawal. If you establish a joint account without the signature of the other joint Account Holder(s), you agree to hold us harmless for our reliance upon your designation of the other joint Account Holder(s) listed on our documents. Further, the Account is subject to the right of setoff as set forth below. P.O.D. Account. A Payable on Death (P.O.D.) Account is an account payable to the Account Holder during his or her lifetime. As the owner of the Account, you may withdraw money from the Account and may, by written direction to us, change the P.O.D. payee(s) under the Account. When the Account Hold...
