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12 Cards in this Set
- Front
- Back
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Fixed Rate Mortgage
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Rate is fixed for the term
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Joint Account
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Account in more than one owner name
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Joint Account- Joint Tenancy with Rights of Survivorship
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Account is the word OR so either party can transact
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Joint Account-Tenancy in Common
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both parties need to act together. Account is AND
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Fiduciary Account
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opened by a representative for the benefit of another person
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Estate Account
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Account for a person who has died to handle funds by a probate court appointed representative
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Trust Account
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Legal document. Revocable Trust can be changed,
Irrevocable cannot |
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Guardianship Account:
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Court appointed representative for a benefeiciary
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Custodial Account
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Parent to control for a minor child
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Partnership Account
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opened under the names of individual partners or a trade name
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Corporation
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opened under the name of the Corporation, not a person
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UTMA
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Uniform Transfer to Minors Act. Allows parents to save for a child/ children. Beneficiary account
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