Unit 18 Flashcards
1
Q
Tenants in Common (TIC)
A
a deceased tenant’s fractional interest in the account is retained by their estate and is not passed to the surviving tenant; can own unequal interests in the accout
2
Q
Joint Tenants with Rights of Survivorship (JTWROS)
A
deceased tenant’s interest in the account passes to the surviving tenant(s).
3
Q
Tenancy be the Entirety (TBE)
A
4
Q
What do you need to open up a new account for a customer?
A
- Their legal capacity (full legal age)
- employment information
- Customer Id Program (CIP)- name, DOB, physical address, SSN, citizenship, financial info about the client
