A form of ownership that requires that a deceased tenant's fractional interest in the account is retained by the surviving tenant(s). It is used almost exclusively by husbands and wives.
A form of account registration in which two or more people share an undivided interest in an account. Upon the death of one owner, the assets pass to the surviving owner.
Is a type of account which permits multiple owners. In the event of death, the surviving holders acquire greater ownership interests until there is only one survivor who becomes the 100 percent beneficial owner. Generally, this type of an account is setup for spouses. There can be various interrelated estate planning issues.
A form of joint ownership in which two or more individuals own an interest in the same property. At the death of one individual, ownership of the decedent's share tranfers equally to the surviving owners. Assets transferred in this way avoid probate.
An account set up where two or more holders own the account. Under this type of account, upon the the death of one of the holders, ownership of the remaining account assets passes over to the remaining holders.
Joint ownership in which, upon the death of one party, the survivor takes title of all the joint property; an undivided fractional interest in the whole.
