For people with past issues affecting their current ability to open a checking account, second …
Joint Bank AccountCommon bank account
In den Vereinigten Staaten[a href="/w/index.php?titre=Joint_account&action=edit§ion=1" title="Abschnitt bearbeiten : United States"">edit]>/span>
There are usually two kinds of community account in the United States - survival account and convenient account. Each of the two co-owners of the account can draw money during the term of both proprietors, and most states have laws that protect the bank from a co-owner's claim against the bank if the other proprietor "unduly" draws money from the joint account.
Distinguishing between survival and convenience account is important when one of the owner deaths. Where the joint account is a survival account, title to the account shall pass to the surrendering joint account holder. 2. If two persons open a joint account and one of them deaths, the other has the right to the remainder and is responsible for the debts of that account.
When the account is a comfort account, when the individual who initially invested the money in the account passes away, the co-owner does not become the account holder. Instead, the account becomes an estate of the dead individual. In the event of the dying co-owner, who has been placed in the account solely for "convenience" reasons, the account's initial owners will remain owners of the account, regardless of the co-owner's deaths.
The way in which you can determine whether the account is a survival account or a comfort account depends on the bank's account opening application documents. As a rule, the application shall contain the option of naming the account as a joint account with survivors' rights ("JTWROS") or as a joint account for reasons of simplification. There is a specific kind of joint account with survivors' rights, referred to in the overall account as a lease, which is used for survivors' account between married partners.
Usually, this particular form of letting through the entire account offers account holder security against a creditor under the current national legislation.