Joint Account Ownership Clause Samples

Joint Account Ownership. All deposits to a joint account and any additions or accruals (i.e. interest) automatically become the property of each joint account holder. We may release the entire account balance to any account holder. During the lifetime of all account holders we may honor checks or orders drawn by, or withdrawals or transfer requests received from, any joint account holder. We may be required by service of legal process to remit funds held in the joint account to satisfy a judgment entered against or other valid debt incurred by any account holder. Each account holder, without the consent of any other account holder, may, and is hereby authorized by every other joint account holder, to make any transaction permitted under the Agreement, including, without limitation: (a) to withdraw all or any part of the account funds; (b) 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; (c) to endorse and deposit checks and other items payable to any joint account holder; (d) to give stop payment orders on any check or item, whether drawn by that account holder or not; (e) 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 Overdraft Policy; and (f) to close the joint account with disbursement of the account proceeds as instructed by any joint account holder. Each account holder is authorized to act for the other account holder(s) and we may accept orders and instructions regarding the account from any account holder. Unless we receive and have a reasonable time to react to a written notice from an account holder directing us not to permit another joint account holder to have access to the joint account, we will not be liable to any account holder for continuing to honor checks, orders, transfers and/or withdrawals from any account holder. If we believe there to be a dispute between joint account holders or we receive inconsistent instructions from the joint 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 joint account. Your obligations regarding your Account are joint and several. This means that each account holder is fully and personally obligated under the terms of the Agreement, including liability for overdrafts and debit balances as set forth above, irrespect...

Joint Account Ownership. An Account with two or more Account Holders is a Joint Account. Joint Account Holders will be considered as joint tenants with right of survivorship. Each Account Holder has a present right to payment from the Account. Each Account ▇▇▇▇▇▇ owns his or her net contribution to the Account. In the absence of proof of net contribution, and unless the Account Holders have specifically otherwise agreed, each Account Holder will own an equal share of this Account. Upon the death of one of the Joint Account Holders: (1) Where there is only one surviving Account Holder, the entire Account will belong to the survivor. (2) Where there are two or more surviving Account Holders, each survivor will continue to own his or her proportionate share. The portion of the Account owned by the deceased party will be shared equally by the survivors. Ownership of the Account cannot be changed by a Last Will and Testament.

Joint Account Ownership. An account with two or more Account Holders is a joint account. Unless you designate otherwise on the Signature Card, joint Account Holders will be considered joint tenants with right of survivorship.