Account Registration Types
Chapters in this video
- 0:00 Individual and joint accounts, death consequences
- 1:08 JTWROS: right of survivorship and 100% undivided interest
- 2:06 Tenants in common: fractional shares and probate traps
- 3:30 Tenants by the entirety: married couples only
- 4:01 Community property versus titling choices
- 4:54 TOD and POD: probate avoidance with zero lifetime control
- 5:19 Entity account rules: charter plus resolution
- 6:28 Rapid-fire exam recap
What this video covers
- Joint tenants with right of survivorship (JTWROS), including the 100% undivided interest rule and the automatic probate bypass at death
- Tenants in common (TIC), how fractional interests pass through the decedent's estate, and why the surviving co-tenant does not automatically control the deceased's share
- Tenants by the entirety (TBE), its married-couple-only restriction, and why both spouses must agree to sell or encumber property
- Community property versus JTWROS titling, and how these two concepts layer rather than exclude each other in the same state
- Transfer-on-death (TOD) and payable-on-death (POD) designations, and the critical distinction that they convey zero ownership or control during the original owner's lifetime
- Entity account registration requirements: sole proprietorships versus partnerships, corporations, and unincorporated associations
- Why the corporate resolution naming authorized signers is mandatory, and why a CEO not named on that resolution cannot place trades
Read the full lesson, free
This video's complete written lesson is free to read in the CertFuel app, no signup wall. The complete Series 6 course also includes adaptive practice questions and spaced-repetition flashcards.