Right of Survivorship definition

Right of Survivorship means that upon the death of an owner, the decedent’s share of the account will be owned equally by all surviving owners. If no surviving owners, funds are distributed equally among the surviving beneficiaries, if any. If no surviving owners or beneficiaries, funds in the account are subject to the probate laws of the State of California.
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Right of Survivorship means that upon the death of an owner, the decedent’s share of the account will be owned equally by all surviving owners. If no surviving owners, funds are distributed equally among the surviving beneficiaries, if any. If no surviving owners or beneficiaries, funds in the account are subject to the probate laws of the State of California. The primary Member, acting alone, shall have the right to change the ownership structure of any account(s) by executing and dating a new membership application/signature card on file with the Credit Union bearing the most recent date.
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Right of Survivorship means, in respect of a Joint Account, the surviving Client(s) right to the entire interest in the Joint Account upon the death of the other Client; and
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Examples of Right 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”).

  • All Forever Business Owner Applications that contain two signatures, regardless of when signed, shall be treated as creating a Joint Tenancy with Right of Survivorship.

  • If the Distributor application of a legally married person has checked the marital status box as being Married, but the application only contains the signature of one of the married parties, the company will treat the Forever Business as being a Joint Tenancy with Right of Survivorship.

  • The Company recognizes Joint Tenancy with Right of Survivorship and use of Grantor Trusts as legal means of holding a Forever Business and in the event of an FBO’s death, a means of transferring the Forever Business to the Survivor or named beneficiary respectively without having to go through probate proceeding to get the property to the intended heir.

  • If the FBO lives in a community property state, the treatment will be that of Community Property with Right of Survivorship.

  • 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.

  • 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.

  • 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.

  • All FLP Distributor applications that contain two signatures, regardless of when signed, shall be treated as creating a Joint Tenancy with Right of Survivorship.

  • If the Distributor lives in a community property state, the treatment will be that of Community Property with Right of Survivorship.


More Definitions of Right of Survivorship

Right of Survivorship means if an Owner dies, the deceased Owner’s portion will pass to the survivor(s) equally otherwise to the estate of whichever said Owners is the last to die. “Tenants-in-Common” means if an Owner dies, the deceased Owner’s portion will pass to the estate of that deceased Owner. Note: If the Insured’s name has changed, additional documentation is required.
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Right of Survivorship means that upon the death of an owner, the decedent’s share of the account will be owned equally by all surviving owners. If no surviving owners, funds are distributed equally among the surviving beneficiaries, if any. If no surviving owners or beneficiaries, funds in the account are subject to the probate laws of the State of California. The primary Member, acting alone, shall have the right to change the ownership structure of any account(s) by executing and dating a new Membership application/signature card. We shall recognize as joint owners, survivors and beneficiaries those parties appearing on the Membership application/signature card on file with the Credit Union bearing the most recent date.
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Related to Right of 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.

  • Qualified Joint and Survivor Annuity means an immediate annuity for the life of a Participant, with a survivor annuity for the life of the spouse which is not less than 50% and not more than 100% 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 that can be purchased with the Participant's Vested Account Balance. The percentage of the survivor annuity under the Plan shall be 50%.

  • Freestanding sign ’ means any sign or group of signs contained or displayed on one freestanding structure which is not attached to a building or to any structure or object not intended to be used for the primary purpose of advertising;

  • '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."

  • 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.

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

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

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

  • 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.

  • Termination Right have the respective meanings given in the PRA Contractual Stay Rules.

  • Lifetime limit means once you’ve reached this benefit limit you can no longer claim that benefit in any future year of membership, even if you change your cover.

  • free-standing sign means any immobile sign which is not attached to a building or to any structure or object intended to be used for the primary purpose other than advertising;

  • Appurtenant Rights means (i) all agreements, easements, rights of way or use, rights of ingress or egress, privileges, appurtenances, tenements, hereditaments and other rights and benefits at any time belonging or pertaining to the Land or the Improvements, including, without limitation, the use of any streets, ways, alleys, vaults or strips of land adjoining, abutting, adjacent or contiguous to the Land and (ii) all permits, licenses and rights, whether or not of record, appurtenant to the Land.

  • Access Tandem Switch is a Switch used to connect End Office Switches to interexchange Carrier Switches. Qwest's Access Tandem Switches are also used to connect and switch traffic between and among Central Office Switches within the same LATA and may be used for the exchange of local traffic.

  • Sign face means the entire area of the surface of a sign including the border or frame together with any material forming an integral part of the background of the display or used to differentiate the sign from the backdrop or building against which it is erected. Where a sign is composed of individually installed letters, numerals or shapes, the sign face shall mean the area of the smallest polygon containing a maximum of eight (8) right angle sides that enclose the groupings of letters, numerals or shapes;

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

  • Fascia Sign means a sign attached to, marked or inscribed on, erected or placed against a wall forming part of a building, or supported by or through a wall of a building and having the exposed face thereof on a plane approximately parallel to the plane of such wall and includes a painted wall sign and an awning sign. A fascia sign shall not include any other sign defined in this By-law unless otherwise stated;

  • Marquee sign means any sign attached to or supported by a marquee, which is a permanent roof-like projecting structure attached to a building.

  • Premises Building Partial Damage means if the Building of which the Premises are a part is damaged or destroyed to the extent that the cost to repair is less than fifty percent of the then replacement cost of the Building.

  • Single Life Annuity means an annuity payable for the life of a Participant.

  • Spouse means, an individual who,

  • Acceleration Right means the Participant’s right, in certain circumstances, to exercise its outstanding Option as to all or any of the Common Shares in respect of which such Option has not previously been exercised and which the Participant is entitled to exercise, including in respect of Common Shares not otherwise vested at such time;

  • Free-Standing Appreciation Right means an Appreciation Right granted pursuant to Section 5 of this Plan that is not granted in tandem with an Option Right.

  • Special Representations has the meaning set forth in Section 8.1.

  • Tandem or “Tandem Switch” or “Tandem Office Switch” Tandem means to connect in series. A Tandem, Tandem Switch or Tandem Office Switch connects one trunk to another for the purpose of exchanging Local Traffic. It is an intermediate (Class 4) switch between an originating telephone call and the final destination of the call.

  • Option to Build means the option of the New Service Customer to build certain Customer- Funded Upgrades, as set forth in, and subject to the terms of, the Construction Service Agreement.