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Financial Glossary |
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a b c d e f g h i j k l m n o p q r s t u v w x y z |
Joint Account
If two or more people own an account together the account is known as a joint account. There are several different types of joint accounts, including Tenants in Common (TIC), As Tenants by Entirety (ATBE), Joint Tenants with Rights of Survivorship (JTWROS), and Community Property (Comm Prop).
Joint Ownership
If two or more people own an asset together, the asset is known as joint property. There are several different types of joint assets, including Tenants in Common (TIC), As Tenants by Entirety (ATBE), Joint Tenants with Rights of Survivorship (JTWROS) and Community Property (Comm Prop).
Joint Tenants with Rights of Survivorship (JTWROS)
Means that upon the death of one of the joint owners, the remaining person or persons are entitled to the assets.
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