Joint Account

Legal Definition and Related Resources of Joint Account

Meaning of Joint Account

The rule that where two or more persons advance money and take the security to themselves jointly, each is in equity deemed to be separately entitled to his proportion of the money, so that on his death it passes to his personal representatives and not to his surviving co-lenders, made it usual, in cases where money was advanced by trustees, to insert in the mortgage deed, etc., a declaration that the money belonged to the lenders on a joint account in equity as well as at law, and that the receipt of the survivors or survivor, or his personal representatives, should be a full discharge for any monies due on the security. The Conveyancing Act, 1881, s. 61, re-enacted by the Law of Property Act, 1925, s. Ill, made it sufficient to say merely that the money is advanced by the lenders out of money belonging to them on a joint account

Financial Definition of Joint Account

An agreement between two or more firms to share risk and financing responsibility in purchasing or underwriting securities.

Related Entries of Joint Account in the Encyclopedia of Law Project

Browse or run a search for Joint Account in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.

Joint Account in Historical Law

You might be interested in the historical meaning of this term. Browse or search for Joint Account in Historical Law in the Encyclopedia of Law.

For more information about Historical Law definitions, see Historical Definitions in the Encyclopedia of Law. For more information about Historical Law Books and Legal Documents, see Legal Encyclopedia of Historical Books and Documents and Legal Encyclopedia of Books and Documents of the 20th Century.

Legal Abbreviations and Acronyms

Search for legal acronyms and/or abbreviations containing Joint Account in the Legal Abbreviations and Acronyms Dictionary.

Related Legal Terms

You might be also interested in these legal terms:

Meaning of Joint Account

In this law dictionary, the legal term joint account is a kind of the Banking class.

Resources

See Also

  • Joint Tenancy
  • Banking

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