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What is a joint account?

asked by ac29 (12)

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Tags:  finance

answers

A joint account has two owners. Each owner has half interest in the account. A joint account differs from Tenants in Common, who each have full ownership of the account.

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posted by Att4372 (851)
6 votes

A joint account is an account, usually at a bank or other financial institution, that is owned by two or more people. Often a husband and wife will have a joint account so that both can write checks for household expenses, for example.

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posted by willard (679)
6 votes

A joint account is one held by multiple holders. In many situations, joint accounts are held by spouses. However, that is not the only case. Joint account holders can be two or more people.

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posted by TheTide (68)
6 votes

My best understanding of a joint account is that two people have equal access to the account. For instance, a husband and a wife can deposit and withdrawl money from the account.

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posted by tyler13 (87)
5 votes

A joint account is one where more than one person's name appears as the owner of the account. This could be a savings or checking account set up for a couple.

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posted by Danie (839)
5 votes

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