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LSDefine

Simple English definitions for legal terms

joint account

Read a random definition: preferential union shop

A quick definition of joint account:

A joint account is a bank or brokerage account that two or more people open together. Each person can take out all the money in the account, and when one person dies, the other person becomes the owner of the account. It's like sharing a piggy bank with your friend, but you both have access to all the money inside.

A more thorough explanation:

A joint account is a bank or brokerage account that is opened by two or more people. Each party has the right to withdraw all funds in the account, and upon the death of one party, the survivors become the owners of the account, with no right of the deceased party's heirs or devisees to share in it. Typically, the account-holders are designated as “joint tenants with right of survivorship” or “joint-and-survivor account-holders.”

For example, John and Jane open a joint account at a bank. They both have equal rights to withdraw money from the account. If John dies, Jane becomes the sole owner of the account, and John's heirs or devisees have no right to share in it.

Joint accounts are often used by married couples or business partners to manage their finances together. It is important to note that joint accounts can have legal and tax implications, so it is important to consult with a financial advisor or attorney before opening one.

John Doe warrant | joint action

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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