Definition of With/Without Right of Survivorship

Definition of With/Without Right of Survivorship

When opening a joint trading account, traders are required to note the designation of tenancy. This will typically be designated as "Tenants in common" or "With right of survivorship".

"Tenants in common" means upon death, the portion of the account representing the deceased's interest will be transferred to his/her estate. 

Example: Person A and Person B hold a joint account together. Person A passes away. A portion of the account representing Person A's interest in the account will be transferred to Person A's estate.

"With right of survivorship" means upon death of any of the Joint Owners, the survivor(s) shall be vested with this joint account.

Example: Person A and Person B hold a joint account together. Person A passes away. The portion of the account representing Person A's interest in the account will be transferred to Person B.

If you have further questions about opening a joint account, please contact a member of EdgeClear's broker team.

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