Glossary J

An account that has two or more owners who possess some form of control over the account and these individuals may transact business in the account. See also joint tenants.

A type of account with two owners. There are two types of joint tenant accounts: 1) Joint Tenants With Rights of Survivorship - in the event of the death of one party, the survivor receives total ownership of the account and 2) Joint Tenants in Common - in the event of the death of one party, the survivor receives a fractional interest of the account, the remaining fractional interest goes to the deceased party's estate.

A bond with a credit rating of BB or lower, carrying higher risk of default than investment grade bonds.