An account with a financial institution that is in the name of
more than one person. Any individual whose name is on the
joint account can operate the account; but it is possible to
restrict any withdrawals by requiring both people to sign.
When property is held by two or more people together in equal
shares. On the death of one joint tenant the property automatically
passes to the other joint tenant(s), regardless of what may be set
out in the deceased person's will.
Last updated: 03 Jul 2015