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Home >> Accounts >> Checking Accounts
Technicalities of the Name on my Account
Does it matter how names appear for a joint account on checks, meaning does the word "or" have to be put between two names to be legal? (i.e. Jane and John Smith, Jane or John Smith)
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 Some financial institutions will include "and" or "or" between names in the account title, most do not. Regardless of how the account title is set up, the deposit contract and state law determine who has access to the account, under what restrictions, and what happens should a joint owner die.
If you received a copy of the signature card (in many cases, it's a sheet of paper), you may be able to determine from what is checked off whether a joint account is held with a right of survivorship (the account becomes the property of the surviving owner(s) if one of the owners dies), or held as a tenancy in common (each owner has a share of the account, and an owner's share goes to the owner's estate if that owner dies). If you have any questions about your rights as a co-owner of an account, contact the financial institution for clarification.
Published on BankingQuestions.com 1/24/07
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